The new energy industry’s coming of age
The KPMG US Emerging Energy Survey 2025 explores how skyrocketing AI use and other technology-driven demand for power is fueling expansion in the emerging energy sector
Read the 2025 KPMG US Emerging Energy Survey
Download reportEmerging energy growth is being driven by raw, unstoppable demand
The current energy mix can’t meet the power needs of AI data centers and electrification across industries, and it’s pushing US emerging and renewable energy development past historic barriers to expansion. Our survey reveals how industry leaders are responding to this unprecedented growth, shifting their financing strategies, and operating under new and evolving policy landscapes.
Key insights from our survey
- Technology-driven demand, including from AI data centers, is fueling a surge in power needs that must include production from new energy sources.
- Nearly half of surveyed companies are prioritizing battery and other energy storage technologies for expansion.
- Traditional financing mechanisms are gaining relevance, with less reliance on tax credits.
- Political uncertainty and supply chain disruptions remain top challenges, impacting investment decisions and project timelines.
- Significant growth is expected in nuclear energy and microgrid adoption, supporting grid resilience and clean energy goals.
71%
say the energy mix must expand to meet surging technology-driven demand, especially from AI and data centers
31%
see traditional financing as the most relevant mechanism for scaling the emerging energy sector, signaling a shift away from reliance on tax credits
48%
are prioritizing energy storage technologies, making battery storage the top focus for expansion
62%
say the political environment is impacting their investment decisions, up significantly from last year
72%
of executives expect significant growth in nuclear energy
49%
of executives cite tariffs as a top supply chain issue, and 9 out of 10 point to increased materials costs
Dive into our thinking:
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