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The Powerful Potential of Next Gen Power
By 2050, there will be 9.6 billion people on the planet. The global economy is expected to grow 2.6% every year between now and then.1 As a result, we are looking at consuming 20% more energy in 2050 than we do today.1 The energy sources that power the future matter.
We call this pool of energy sources “Next Gen Power.” It includes the sources we believe are poised to meet these demands over the long-term: renewables like solar power, wind power, hydropower, biofuel, and geothermal, as well as nuclear energy and natural gas.
When combined, the sources we define as “Next Gen Power” are expected to make up 62% of the global energy supply in 2050, compared to 44% today.1 It is building on a wave of investment momentum that began after 2020 and is expected to continue as governments and private companies invest even more in advanced technologies, grid and storage capacity, and efficiency gains.
Next Gen Power: Renewables and the Energy Grid
Renewables generation is expected to increase fourfold and make up 31% of total global energy supply by 2050, surpassing all other energy sources well before then.1 By 2035, renewables and grids/storage are projected to generate an average annual investment of over $600 billion each, far more than any other part of the energy sector.1 At the same time, the cost of batteries, storage, wind turbines, and solar panels have dramatically declined over the past decade.1 Lithium-ion battery prices alone have declined more than 90% since 2010.1 We believe such energy and cost efficiencies will continue to propel the sector forward for decades to come.
Next Gen Power: The Future is Nuclear
After the 1980s, investment in nuclear energy plummeted. It’s only been in the last decade or so that nuclear has witnessed a comeback as China, the US, and the EU look for diverse ways of addressing rising emissions and energy security concerns. More than 40 countries include nuclear in their energy strategies, illustrating a long-term commitment to investing in the sector. With the wind at its back, nuclear power capacity is projected to double by 2050 with a 2.6% CAAGR.1 By that time, nuclear energy will make up 8% of the global power supply.1
Next Gen Power: Fueled by Natural Gas
Today, natural gas makes up 23% of the total global energy supply.1 Demand is expected to rise 1% annually to 2035, at which point it will level off and remain stable through 2050.1 It will remain the largest source of electricity for the next decade. Yet within this trajectory of stability exists a shift toward another formula: liquid natural gas (LNG). Over the next several years, LNG capacity is expected to increase by 50%, representing the largest burst of energy capacity additions in history.1
Power on the Decline: Oil and Coal Wind Down
As Next Gen Power paves the way of the future, other sources of energy are being left behind. Oil and coal are both expected to make up a smaller share of global energy supply over the coming decades than they do today. Oil demand is expected to stop growing by 2030, declining by -0.2% CAAGR from 2024 to 2050.1 It will go from making up 30% of total energy supply to 25%. By 2035, coal demand will have already dropped 20% from 2024 levels, declining by -2.4% CAAGR to 2050.2 We therefore leave oil and coal out of our definition of Next Gen Power.
TrueShares Eagle Global Next Gen Power Infrastructure ETF (PWRZ) invests in equity securities of domestic and foreign companies that are engaged in innovative, sustainable, or scalable solutions to meet the burgeoning power demands of industries across the globe. These companies primarily own or operate assets used in the development, generation, production, transmission, storage and sale of solar power, wind power, hydropower, geothermal, natural gas, biofuels, and nuclear.
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Energy sources and investment themes may not develop as projected and investments remain subject to risk.
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Definitions:
CAAGR: Compound average annual growth rate
Projections are based on the IAE’s “Stated Policies Scenario,” which considers the application of a broader range of policies, including those that have been formally put forward but not yet adopted, as well as other official strategy documents that indicate the direction of travel. Barriers to the introduction of new technologies are lower than in the “Current Policies Scenario,” but the “Stated Policies Scenario” does not assume that aspirational targets are met.
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Fund Disclosures:
Effective July 9, 2026 the Fund changed its principal investment strategy. Accordingly, the Fund's performance prior to July 9, 2026 was achieved under investment policies and strategies that differ from those currently in effect. Please review the funds prospectus to view the current investment strategy. Effective July 10, 2026 the Fund will transfer its listing from NYSE to CBOE. Shares will begin trading under ticker PWRZ. Performance shown for periods prior to July 9, 2026 reflects the Fund's performance under its former name and ticker symbol. The TrueShares Eagle Global Renewable Energy Income ETF (RNWZ) changed its name and ticker to the TrueShares Eagle Global Next Gen Power Infrastructure ETF (PWRZ) on July 9, 2026.
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