Take a look inside a $1.1 million ‘zero emissions’ home
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2 months agoon
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admin
Courtesy: Wojciechowski Family
Real estate is a key puzzle piece in achieving the U.S.’ climate goals, according to federal officials.
Residential and commercial buildings account for 31% of the nation’s greenhouse gas emissions, after accounting for “indirect” emissions like electricity use, according to the Environmental Protection Agency. That’s more than other economic sectors like transportation and agriculture.
The Biden administration has adopted various policies to cut residential emissions.
The Inflation Reduction Act, enacted in 2022, offers financial benefits including tax breaks and rebates to homeowners who make their homes more energy-efficient, for example. The White House also recently issued guidelines for buildings in order to be considered “zero emissions,” meaning they are “energy efficient, free of onsite emissions from energy use and powered solely from clean energy,” according to the Department of Energy.
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Morgan Wojciechowski, 33, is among the first homeowners to get that federal “zero emissions” label. (That assessment was bestowed by the third-party firm Pearl Certification.)
Wojciechowski, her husband Casey, and their three dogs — Dixie, Bo and Charlie — moved into the newly built residence in Williamsburg, Virginia, in August 2023.
Wojciechowski, who is also the president of Healthy Communities, a local real-estate developer focused on sustainable construction, spoke with CNBC about her new home, its financial benefits and how consumers can best upgrade their homes to be more efficient.
The conversation has been edited and condensed for clarity.
Morgan Wojciechowski and her husband Casey.
Courtesy: Wojciechowski Family
Greg Iacurci: What does it mean for your home to be considered ‘zero emissions’?
Morgan Wojciechowski: It’s a very, very, very highly efficient home that’s all-electric. Those are kind of the first two bullet points of the White House definition.
The third part is we are part of the green energy program with [our power provider] Dominion. Not only am I producing solar [energy] and any excess is going back onto the grid, but the power from the grid coming into my home is clean and sustainable. It’s about $10 extra a month for me to get that clean energy.
GI: How much did your house cost to build?
MW: Like $1.1 million.
GI: And how big is the house?
MW: 5,800 square feet.
It’s a large home. But mine is not what everybody’s doing. My home was my personal project because I believe in sustainability and wanted to do it in a home that would be my forever home. But one that’s more replicable would be like what [Healthy Communities] builds at Walnut Farm, which is like 1,500 square feet. We’re selling it for $433,000.
GI: Can you break down your home’s estimated savings?
MW: Our utility bills are projected to be about $917 a year with [solar] panels, or around $80 a month.
The annual savings are $7,226 [relative to an average U.S. home, according to rater TopBuild Home Services]. That’s just from the efficiency of the home with solar.
If you took the solar production away, I would be saving $5,431 annually. The solar offsets it.
Courtesy: Wojciechowski Family
Courtesy: Wojciechowski Family
Courtesy: Wojciechowski Family
Courtesy: Wojciechowski Family
Courtesy: Wojciechowski Family
GI: What do you mean solar offsets it?
MW: You create energy. Your home uses that energy and sends excess energy back to Dominion. Those credits are stored in an account, and then those credits offset your bill. It’s called net metering.
GI: So the power company is paying you that money?
MW: Those credits are applied to your next billing cycle. They offset your overall utility bill, and that’s where your savings come in.
Solar panels only make sense if you build an energy-efficient home that’s really all-electric.
Courtesy: Wojciechowski Family
GI: Why is that?
MW: You have to have a home that’s constructed energy-efficiently enough or retrofitted — by replacing your windows with higher-grade windows, adding insulation — so that you will need fewer panels on your rooftop, so you have a quicker return on your investment. Solar only makes sense if you’re going to have a return on your investment within a few years.
GI: That makes solar more attractive?
MW: If you don’t do energy-efficient upgrades to a pre-existing home or if you don’t build a home that’s energy-efficient enough, you have to add more panels to compensate for the lack of energy efficiency. And if that number gets too big it turns people upside down.
Solar has to make sense with the home that you’re putting it on, or else, don’t do it. Maybe just upgrade your windows, add insulation, condition your crawl space, upgrade your mechanical systems.
There are a lot of things consumers can do. You don’t have to do it all at one time. You don’t have to have a solar home to be zero emissions; you have to have an energy-efficient house that’s all-electric, and you have to buy renewable energy from your utility company.
That’s extremely approachable. Lots of people can do that. Everybody can join in at their level of sustainability.
GI: How do you recommend people get started?
MW: I would tell a consumer, why don’t you start with windows and doors. That’s a very easy one. Do that and see how you notice any [efficiency] changes.
In a lot of older homes windows are very old and they leak. Air is coming in and out. If you think about it, a house is like an envelope. You you want to seal the inside of your home the best that you can.
I would hit insulation next.
A lot of older homes have HVAC systems, duct work inside of their attic. Insulate it so that it’s a conditioned space, so that those building systems don’t have to work in overdrive to keep up with really hot temperatures or really cold temperatures. That keeps it more energy efficient.
And there are tax incentives [available] for energy-efficient upgrades to your home. Consumers can get and write them off, so that’s attractive to people as well.
GI: If you’re a renter, there are certain things that are out of your control. I suppose you can ask your landlord.
MW: Depending upon what your rental situation is. I feel like that’s a little bit more daunting, to change someone else’s mind. Once you get to your own home, eventually, then you have more say of what you can do.
Until then, you could be mindful about the energy you use. Turn lights off. I mean, that’s a real thing. People don’t turn lights off. I mean, even though I have a really efficient home, I have timers on things because I don’t want to be wasting energy. That’s an easy one that anybody could do.
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Environment
Rivian Adventure Network open to other cars soon, will be ‘awesome’ says CEO
Published
1 hour agoon
November 23, 2024By
adminWe heard a little more about Rivian’s upcoming plans to open its Rivian Adventure Network chargers at a roundtable discussion with CEO RJ Scaringe this week.
Rivian has been working on its own in-house charging network since 2020, with a focus of placing charging sites on the way to the sort of beautiful natural places that it has tied so much of its brand to.
For a primary example of this, Rivian opened its first “Charging Outpost” just outside Yosemite National Park in July, renovating an old gas station into a very cool ranger cabin-style spot to stop and refuel your car – and also yourself.
Now, it’s ready to open its network to other brands, which it announced last April. The goal was to open by the end of 2024 – which is fast approaching.
While Rivian stopped short of announcing a date for this at our roundtable discussion, it was clear that the announcement is coming “very soon.”
Scaringe told us that he was just reviewing the software that non-Rivian customers will use and that “it’s gonna be awesome.” So it sounds like there’s a plan to offer a separate app experience for non-Rivian owners, likely through the Rivian app (thus ballooning the number of apps that every EV owner needs to have… we need to do something about that).
To this end, Rivian did purchase A Better Route Planner (ABRP) last June, one of the more popular charge planning apps for EVs. This has surely been a factor in Rivian’s app development.
Scaringe told us that RAN has now expanded to a total of 91 sites and around 700 chargers – which he says is around 4% of the size of Tesla’s Supercharger network, but that RAN has maintained high uptime as it scales. Scaringe said that if you would have asked him 6-7 years ago, he would have expected more successful third-party charging companies by now., but that now, out of all the charging networks out there, there are “only two great networks – and only one great scaled network,” namely Tesla Superchargers.
The others, which aren’t owned by an EV manufacturer, just aren’t as good. RAN and Tesla have ~99% uptime, where Scaringe said that other networks have sub-70% or even sub-50% uptime (this may be an underestimate – or maybe not – but the point stands that every EV driver can tell you Tesla is the gold standard here).
So Rivian sees it as important to electrification to offer another great network that can help give drivers more choices, more availability, and high reliability.
But how will that interface with the NACS transition? Rivian was early to hop aboard and announce that it will shift to using NACS and ship adapters to its owners, though its current vehicles still have native CCS ports even post-refresh (the Korean brands will be the first to offer native NACS ports on their vehicles).
We were quite interested in the timeline of who started the discussions to shift to NACS, and Scaringe told us that it was pretty much universal across the industry that as soon as Tesla released its NACS whitepaper calling it an open standard, car companies started talking amongst themselves about the potential of finally harmonizing on a single charging standard.
As of now, Rivian is still installing CCS cables, not NACS ones. It sounded like it intends to keep doing this for the foreseeable future, and that “the charging network will catch up” as cars transition to NACS. Until then, people can use adapters – and “in the long term, everything will go to NACS” as it’s just a better standard, and whatever remaining CCS cars exist will just end up using adapters.
This seems a little strange to make cars that aren’t (natively) supported on your own charging network, but Scaringe said that that’s the benefit of owning the network – cables are not too hard to swap out. So it would be easy to just change out the cable heads on existing chargers without having to build new sites or install new cabinets.
We asked whether they’d try a dual-charging-head strategy, with NACS and CCS heads on each cabinet, but it didn’t sound like that was in the plans. The cables will, at least, be long enough to reach both sides of the vehicle – an important consideration given the lack of standardization of charging port locations on EVs, as networks start opening up to multiple brands.
So – we’re looking forward to hearing more about Rivian’s efforts to open RAN, which ought to bear fruit quite soon, if the “end of the year” schedule holds. Stay tuned, as we’re sure there’s more news to come soon.
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Environment
How tech bros bought ‘America’s most pro-crypto Congress ever’
Published
3 hours agoon
November 23, 2024By
admin
Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. Moreno is running against Sen. Sherrod Brown, D-Ohio.
Tom Williams | Cq-roll Call, Inc. | Getty Images
Prior to announcing his Senate candidacy in April 2023, Bernie Moreno was a political no name. A former car salesman in the Cleveland area, his only prior experience in politics was a losing bid for Ohio’s other Senate seat in 2022.
Moreno has since accomplished the once unthinkable.
On Nov. 5, as part of the election that swept Donald Trump back into the White House, Moreno defeated Democratic incumbent Senator Sherrod Brown, who was first elected to the House in 1992, before winning his Senate seat in 2006 and chairing the powerful Banking Committee since 2021.
Moreno’s rise from unsung Ohio businessman to prominent political leader was no accident. His campaign was backed by $40 million from the cryptocurrency industry as part of a highly targeted effort to get friendly candidates elected and, perhaps more importantly, its critics removed. Moreno’s victory was one of the Senate seats Republicans flipped to take control of the chamber.
In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. Advocacy group Stand With Crypto Alliance, which Coinbase launched last year, developed a grading system for House and Senate races across the country as a way to help determine where money should be spent.
Crypto execs, investors and evangelists saw the election as existential to an industry that spent the past four years simultaneously trying to grow up while being repeatedly beaten down. Nearly 300 pro-crypto lawmakers will take seats in the House and Senate, according to Stand With Crypto, giving the sector unprecedented influence over the legislative agenda.
The crypto political lobby worked so well this cycle because it made something complicated, like campaign finance, simple: Raise a ton of cash from a handful of donors and buy ad space in battleground states to either support candidates who back crypto or smear the candidates who don’t. It also required thinking of candidates as a bit of a binary: They were either with the industry or against it.
Crypto companies and their executives mobilized rapidly, and they successfully figured out how to deploy their cash through a sophisticated ad machine across the country. They also took cues from what big tech got wrong. Rather than spending hundreds of millions of dollars on lobbying legislators post-election, the crypto industry invested in targeting their opponents ahead of the election so they wouldn’t have to deal with them at all the next few years.
For over a year, Moreno was grilled by Silicon Valley heavy hitters like Marc Andreessen, Ben Horowitz and David Sacks about blockchain technology, digital asset policy and the shifting terrain of global finance.
“They didn’t just jump in head first,” Moreno said, describing the scores of meetings that stretched back to his run in the primary. “We had to build a lot of trust.”
Moreno also met with Coinbase co-founders Brian Armstrong and Fred Ehrsam as well as policy chief Faryar Shirzad. Armstrong and Ehrsam did not respond to CNBC’s request, through Coinbase, for comment about the meetings.
Coinbase is the largest digital asset exchange in the U.S. and has been battling the Securities and Exchange Commission in court for over a year. The company was the crypto kingmaker in the 2024 cycle, giving more than $75 million to a super PAC called Fairshake. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. Fairshake’s candidates won virtually every race that it funded in the general election.
“Being anti-crypto is simply bad politics,” Coinbase’s Armstrong wrote on X following Moreno’s victory.
As the price of bitcoin has multiplied by about sixfold in the past four years, SEC Chairman Gary Gensler has taken major crypto players like Coinbase and Ripple to court for allegedly selling unregistered securities and has avoided working with companies to develop new specialized regulations.
Meanwhile, Sen. Brown sided with the expressly anti-crypto Sen. Elizabeth Warren, D-Mass., in targeting crypto for allegedly funding terrorist organizations, including Hamas. Brown became more vocal in calling for crackdowns of the industry after the failure of crypto exchange FTX in late 2022.
As FTX was spiraling into bankruptcy, Brown on Nov. 10 retweeted a post from the Senate Banking Committee calling the event “a loud warning bell that cryptocurrencies can fail” and can “have a ripple effect on consumers and other parts of our financial system.”
The bipartisan Fairshake won all but three races in the general election, spending big on Republicans and Democrats gunning for key seats. Protect Progress, a PAC affiliated with Fairshake, gave more than $10 million apiece to Democratic candidates for the Senate in Arizona and Michigan. Both won. Defend American Jobs, another one of Fairshake’s affiliated PACs, spent more than $3 million to support Republican Jim Justice in West Virginia, who will take the former seat of Democratic Sen. Joe Manchin when the new session gets underway in 2025.
In California, Democratic Rep. Katie Porter lost a Senate primary after Fairshake spent more than $10 million on ads against her.
“I was, like, ‘What the heck is Fairshake?'” Porter told The New Yorker.
How tech bros made their pick
Those vetting Moreno wanted to understand what he would do differently than the current administration and regulatory regime, the senator-elect told CNBC in an interview.
“These are people who know how to vet investments, know how to vet people and they took that same discipline” with me, Moreno said.
It helped that he’d built a blockchain startup, a company called Champ Titles that digitizes automobile ticketing and registration.
“What they didn’t want was to put time, effort and energy behind somebody who, at the end, would be a disappointment,” Moreno said.
A spokesperson for Andreessen and Horowitz, who are co-founders of a venture firm bearing their names, declined to comment. Sacks, founder of Craft Ventures, didn’t respond to CNBC’s request for an interview.
Coinbase’s Shirzad met Moreno over breakfast in Washington in the spring. Moreno wasn’t an expert on the details of the policy issues he’d be pursuing but had a clear understanding of crypto technology and how it could be applied, Shirzad told CNBC in an interview.
“It was a really great meeting of minds between me as a policy guy and him as kind of a business guy that saw the potential of the technology,” Shirzad said.
Moreno was out of cash after spending all he had on a tough and expensive primary, said David McIntosh, an early backer of Moreno’s Senate bid and president of the Club for Growth, a conservative organization that focuses on American economic issues. Fairshake played a crucial role for Moreno’s campaign starting in the summer, McIntosh said.
Moreno’s victory over Brown “sent a really strong signal to Washington that the voters are going to support candidates who are pro-blockchain,” McIntosh said.
McIntosh noted that the Club for Growth spent $6.5 million to help Moreno with advertising in the primary through its different super PACs, including the Bitcoin Freedom Fund.
Brown’s office didn’t respond to multiple requests for comment.
Brown told Politico he hasn’t ruled out running for Vice President-elect JD Vance’s open Senate seat in Ohio, which will be filled by special election in 2026.
Moreno benefited from branding himself as the “change” candidate while Brown “became a defender of the status quo,” Shirzad said.
“Crypto thematically is a change issue,” Shirzad said. “It appeals to not only a younger demographic, but it also appeals to voters who want to change.”
Fairshake declined to comment on whether it would spend to block another Brown Senate run, but the super PAC has already raised $78 million for the 2026 midterms.
“We stuck to our core strategy from Day 1, supported pro-crypto candidates and opposed those who played politics with jobs and innovation, and won,” Fairshake told CNBC in a statement.
‘Most pro-crypto Congress ever’
The past two election cycles featured spending from the now-bankrupt crypto exchange FTX and its founder Sam Bankman-Fried, who was sentenced to 25 years in prison in March for stealing more than $8 billion worth of customer money through FTX.
This year’s contributor list was more robust but saw large sums of funding come from companies that have been at odds with SEC Chair Gensler for years. That includes Coinbase and blockchain giant Ripple Labs. Prominent venture fund Andreessen Horowitz, which has a large portfolio of crypto companies, was one of the other primary contributors.
A lot of crypto’s big names also gave significantly in 2024.
FEC filings show Cameron and Tyler Winklevoss were among the largest individual crypto donors this election cycle, giving a combined $10.1 million. Top executives from Ripple contributed millions, led by billionaire founder Chris Larsen, who gave around $12 million this cycle.
Coinbase CEO Armstrong gave over $1.3 million to a mix of PACs including Fairshake and JD Vance for Senate Inc. He also gave directly to Democrats and Republicans running for House and Senate seats. Coinbase Chief Legal Officer Paul Grewal attended at least two Trump fundraisers, including one in Nashville, Tennessee, on the sidelines of the biggest bitcoin event of the year.
Kraken Chairman Jesse Powell donated over $1 million to the Trump campaign.
Other individual crypto contributors include ex-Bitfinex strategy chief Phil Potter (over $1.6 million), Multicoin Capital’s Kyle Samani ($878,600), Paradigm co-founder Fred Ehrsam ($735,400), Union Square Ventures partner Fred Wilson ($1,4 million), Paxos CEO Charles Cascarilla ($198,500), BitGo CEO Mike Belshe ($119,825), Solana co-founder Anatoly Yakovenko ($67,100), and Xapo Bank founder Wences Casares ($374,899).
This week, Armstrong reportedly met with the president-elect to discuss appointments. Within a day, conversations swirled about the potential for the White House’s first crypto czar. By the end of the week, SEC Chair and longtime crypto foe Gensler, whose term doesn’t expire until June 2026, announced he was retiring on inauguration day.
One of Trump’s promises to his crypto fans on the campaign was that he would fire the SEC head and choose crypto-friendly regulators if elected. Gensler may have taken a look at the pressure that faces him across Washington and decided it just wasn’t worth trying to stick it out.
“Welcome to America’s most pro-crypto Congress ever,” Armstrong wrote on X on Nov. 5.
Environment
Data centers powering artificial intelligence could use more electricity than entire cities
Published
4 hours agoon
November 23, 2024By
admin
An Amazon Web Services data center in Ashburn, Virginia, US, on Sunday, July 28, 2024.
Nathan Howard | Bloomberg | Getty Images
The power needs of artificial intelligence and cloud computing are growing so large that individual data center campuses could soon use more electricity than some cities, and even entire U.S. states, according to companies developing the facilities.
The electricity consumption of data centers has exploded along with their increasingly critical role in the economy in the past 10 years, housing servers that power the applications businesses and consumers rely on for daily tasks.
Now, with the advent of artificial intelligence, data centers are growing so large that finding enough power to drive them and enough suitable land to house them will become increasingly difficult, the developers say. The facilities could increasingly demand a gigawatt or more of power — one billion watts — or about twice the residential electricity consumption of the Pittsburgh area last year.
Technology companies are in a “race of a lifetime to global dominance” in artificial intelligence, said Ali Fenn, president of Lancium, a company that secures land and power for data centers in Texas. “It’s frankly about national security and economic security,” she said. “They’re going to keep spending” because there’s no more profitable place to deploy capital.
Renewable energy alone won’t be sufficient to meet their power needs. Natural gas will have to play a role, developers say, which will slow progress toward meeting carbon dioxide emissions targets.
(See here for which stocks are helping to fix the nation’s power grid.)
Regardless of where the power comes from, data centers are now at a scale where they have started “tapping out against the existing utility infrastructure,” said Nat Sahlstrom, chief energy officer at Tract, a Denver-based company that secures land, infrastructure and power resources for such facilities.
And “the funnel of available of land in this country that’s industrial zone land that can fit the data center use case — it’s becoming more and more constrained,” said Sahlstrom, who previously led Amazon’s energy, water and sustainability teams.
Beyond Virginia
As land and power grow more limited, data centers are expanding into new markets outside the long-established global hub in northern Virginia, Sahlstrom said. The electric grid that serves Virginia is facing looming reliability problems. Power demand is expected to surge, while supply is falling due to the retirement of coal- and some natural gas-powered plants.
Tract, for example, has assembled more than 23,000 acres of land for data center development across the U.S., with large holdings in Maricopa County, Arizona — home to Phoenix — and Storey County, Nevada, near Reno.
Tract recently bought almost 2,100 acres in Buckeye, Arizona with plans to develop the land into one of the largest data center campuses in the country. The privately-held company is working with utilities to secure up to 1.8 gigawatts of power for the site to support as many as 40 individual data centers.
For context, a data center campus with peak demand of one gigawatt is roughly equivalent to the average annual consumption of about 700,000 homes, or a city of around 1.8 million people, according to a CNBC analysis using data from the Department of Energy and Census Bureau.
A data center campus that size would use more power in one year than retail electric sales in Alaska, Rhode Island or Vermont, according to Department of Energy data.
A gigawatt-size data center campus running at even the lower end of peak demand is still roughly comparable to about 330,000 households, or a city of more than 800,000 people — about the population of San Francisco.
The average size of individual data centers operated by the major tech companies is currently around 40 megawatts, but a growing pipeline of campuses of 250 megawatts or more is coming, according to data from the Boston Consulting Group.
The U.S. is expected see a growing number of data center campuses of 500 megawatts or more, equivalent to half a gigawatt, in the 2030s through mid-2040s, according to the BCG data. Facilities of that size are comparable to about 350,000 homes, according to CNBC’s analysis.
“Certainly the average size of the data centers is increasing at a rapid pace from now to 2030,” said Vivian Lee, managing director and partner at BCG.
Community impact
Texas has become an increasingly attractive market due to a less burdensome regulatory environment and abundant energy resources that are more easily tailored to specific sites, Sahlstrom said. “Texas is probably the world’s best experiment lab to deploy your own power solution,” the energy officer said.
Houston-based Lancium set up shop in 2017 with the idea of bringing large electric loads closer to abundant renewable energy resources in west and central Texas, said Fenn, the company’s president. Originally focused on cryptocurrency mining, Lancium later shifted its focus to providing power for artificial intelligence with the advent of ChatGPT in late 2022.
Today, Lancium has five data center campuses in various stages of development. A 1,000-acre campus in Abilene is expected to open in the first quarter of 2025 with 250 megawatts of power that will ramp up to 1.2 gigawatts in 2026.
The minimum power requirement for Lancium’s data center customers is now a gigawatt, and future plans involve scaling them up to between three and five gigawatts, Fenn said.
For data centers that size, developers have to ensure that electricity costs in neighboring communities don’t rise as a consequence and that grid reliability is maintained, Fenn said. Pairing such facilities with new power generation is crucial, she said.
“The data centers have to partner with utilities, the system operators, the communities, to really establish that these things are assets to the grid and not liabilities to the grid,” Fenn said. “Nobody’s going to keep approving” such developments if they push up residential and commercial electric rates.
Renewables not enough
Data center campuses run by publicly-traded Equinix are rising to several hundred megawatts from 100- to 200 megawatts, said Jon Lin, general manager for data center services at the company. Equinix is one of the largest data center operators in the world with 260 facilities spread across 72 metropolitan areas in the U.S. and abroad.
Developers prefer carbon-free renewable energy, but they also see solar and wind alone as unable to meet current demand due to their reliance on changing weather conditions.
Some of the most critical workloads for the world’s economy, such as financial exchanges, run at data centers operated by Equinix, Lin said. Equinix’s data centers are online more than 99% of the time and outages are out of the question, the executive said.
“The firmness of the power is still incredibly important for these data centers, and so doing that solely off of local renewables is candidly just not an option,” Lin said.
The major technology companies are some of the largest purchasers of renewable power in the U.S., but they are increasingly turning to nuclear in search of more reliable sources of electricity. Microsoft is supporting the restart of the Three Mile Island nuclear plant outside Harrisburg, Pennsylvania through a power purchase agreement. Amazon and Alphabet’s Google are investing in small nuclear reactors.
But building new nuclear reactors is expensive and fraught with delays. Two new reactors in Georgia recently came online years behind schedule and billions of dollars over budget.
In the short run, natural gas will fuel much of the power demanded by data centers, Lancium’s Fenn said. Gas is the main, short-term power source providing the reliability these facilities require, Boston Consulting Group’s Lee said.
Investments could be made in new gas generation that adds carbon capture and battery storage technology over time to mitigate the environmental impact, Lee said.
The industry hopes that gas demand will taper off as renewables expand, battery storage costs come down and AI helps data centers operate more efficiently, Fenn said. But in the near term, there’s no question that data center expansion is disrupting technology companies’ emissions targets, she said.
“Hopefully, it’s a short term side step,” Fenn said of stepped-up natural gas usage. “What I’m seeing amongst our data center partners, our hyperscale conversations, is we cannot let this have an adverse effect on the environmental goals.”
Note: CNBC analysis assumes a data center campus is continuously utilizing 85% of its peak demand of a gigawatt throughout the year, for a total consumption of 7.4 billion kilowatt-hours. Analysis uses national averages for household electricity consumption from EIA and household size from Census Bureau.
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