The world is not replacing fossil fuels so much as adding to them. Global energy demand rose 2.7% in 2025, and oil, gas, coal and renewables all grew together, according to a recent global energy outlook.
Grids are the pinch point. The same outlook expects global investment in power transmission and distribution to rise from US$443 billion in 2025 to US$970 billion a year by 2050. Transmission is set to grow at 4.2% a year, against 1.1% for local distribution.
Now place that beside the customer. In a recent podcast from a leading US business school, a climate policy head explained that the chips inside data centres become obsolete within two to three years. So waiting six to twelve months for power wastes a big share of the investment. That is why buyers chase “speed to power”.
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