Power Generation

Power Generation covers the production of electricity across all sources — natural gas and coal, nuclear, hydroelectric, and the fast-growing renewables (solar and wind). Sized from reported generation establishments, it represents roughly $146 billion in wholesale/merchant generation revenue, with much utility-owned generation also captured within regulated distribution.

The sector is in a generational transformation: coal is retiring, renewables are surging (solar generation grew ~25% and wind ~13% annually), natural gas serves as the bridge fuel and reliability backbone, and nuclear is enjoying a renaissance. After two decades of flat electricity demand, load growth is re-accelerating — driven by data centers and AI, electrification, and reshoring — reshaping generation planning and making capacity, reliability, and clean power strategic priorities.