The US Power Constraint: AI, Grid Investment and the Race for Electricity

In this paper, we discuss:

• How AI and data centers are driving a new era of US electricity demand;
• Why grid constraints matter more than aggregate generation capacity;
• How natural gas is emerging as a major source of new power supply;
• Why local opposition and infrastructure bottlenecks could slow the power buildout;
• How policymakers are seeking to protect households from the costs of data-center expansion.

Download PDF: US Power Infrastructure – October 2026