Powering Up Europe: AI datacenters and electrification to drive +c.40%-50% growth in electricity consumption

Since 2008, European electricity consumption has cumulatively declined by c.10%. However, this trend might be about to reverse: the rapid expansion of datacenters and gradual pickup of the electrification process could boost Europe's power demand by c.40%-50% over the coming 10 years, Goldman Sachs Research estimates.

29 APR 2024 Goldman Sachs Research

Powering Up Europe: AI datacenters and electrification to drive +c.40%-50% growth in electricity consumption

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