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AI Powers a Renewed Opportunity in Renewables
A query on ChatGPT uses 10 times more energy than a traditional Google search.1 The data used to inform ChatGPT’s response and the advanced chips that give responses almost instantaneously are housed in massive data centers all over the country and the world. These massive data centers require massive amounts of energy for storage, memory, processing power, and keeping the entire system cool enough to function. The AI boom depends on energy and it’s finding that solution in renewables.
Data center spending is projected to surpass $1 trillion by 2029 as some of the biggest tech companies go all in on AI infrastructure.2 Even before the AI boom, data center electricity use had been increasing roughly 12% per year since 2017, four times the average rate of electricity consumption from all other sources.3 Today, the average data center uses as much electricity as 100,000 homes, with the larger facilities currently under construction expected to require 20 times that amount.3 AI needs power, and it needs it now.
Mega-cap tech hyperscalers like Amazon, Microsoft, Meta, and Google are looking to renewables to meet the moment. They are targeting 100% consumption of green energy to power their data centers.2 Hyperscalers represent 4 out of the top 5 counterparties signing renewable energy infrastructure contracts right now.4
Globally, renewables are expected to meet half of data center energy growth over the next five years.3 The sector is already the fastest growing source of energy for data centers and makes up over a quarter of data center energy supply globally.5
And the demand on renewable energy from the AI race has only just begun. Data centers are expected to double their electricity demand by 2030.3 But the energy sector and the tech sector don’t exactly move at the same pace. Where Amazon could potentially build a data center in a couple years, it might take twice the amount of time (or more) to build transmission lines and connect the data centers to a power source.6 However, long lead times often means long contracts. For investors, long contracts can mean stable income from the renewable energy sector.
In 2025, renewable energy far outpaced total returns of the S&P 500. Experts say the renewable energy sector is very well-valued, especially when compared to the indices and tech specifically.4 But the growth and stability of renewables isn’t solely reliant on the AI boom holding strong. Since 2000, nearly all of the increased electricity capacity in the US has come from renewables.7 Regardless of the federal energy policy at any given time, the general population generally favors the energy transition.4
Interested in the rise in renewables?
TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) is an actively-managed ETF designed to offer investors core renewables exposure and income, and seeks long-term growth of capital by investing in renewables infrastructure companies that are providing value through accelerating the global transition to clean energy. Target portfolio companies primarily own and operate renewable energy facilities such as wind farms and solar fields, energy storage, and electric transmission assets. These assets tend to generate stable cash flow streams derived from long-term contracts with governments, utilities, and corporations.
Interested in AI done differently?
TrueShares Technology, AI & Deep Learning ETF (LRNZ) seeks to provide thematic exposure to a concentrated portfolio of technology companies that are significantly involved in the application of advanced levels of artificial intelligence within their businesses. LRNZ generally holds 20-30 positions representing companies we believe possess innovative AI and Deep Learning solutions that represent a distinct competitive advantage in a particular industry. A focus on secular growth companies helps lower correlation to broad market indices. LRNZ is led by a portfolio manager with a deep understanding of the technology sector and an ability to conduct extensive qualitative fundamental research.
- https://www.weforum.org/stories/2025/01/energy-ai-net-zero
- https://www.weforum.org/stories/2025/11/ai-accelerate-energy-transition/
- https://www.iea.org/reports/energy-and-ai/executive-summary
- https://www.youtube.com/watch?v=oDQnuf9WU50&t=13s
- https://www.iea.org/reports/energy-and-ai/energy-supply-for-ai
- https://www.iea.org/reports/energy-and-ai/energy-demand-from-ai
- https://deloitte.wsj.com/sustainable-business/generative-ai-renewables-and-energy-demand-trends-a21bfced
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