1301 ET - Energy demand from just six companies is driving the need for new forms of renewable energy, UBS analysts say. Amazon, Microsoft, Google, Meta, Oracle and Apple accounted for nearly 20% of the growth in electricity demand in the U.S. last year, the analysts say. Those companies are increasing their electricity consumption at about 30% a year as they scale investments in AI, the analysts say. If annual growth continues at 25% per year at just those six companies, electricity demand will surpass the U.S. solar industry's energy generation in early 2028. This calls for new types of clean-energy generation, the analysts say. "This is at the core of the need for an all-of-the-above approach to new generation capacity," they say. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

June 11, 2025 13:01 ET (17:01 GMT)

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