Connect with us

Funding & Business

Solar notches another win as Microsoft adds 475 MW to power its AI data centers

Published

on


Microsoft is adding another 475 megawatts to its already considerable renewable-powered portfolio to feed the growing energy appetite of its data centers. The company recently signed a deal with energy provider AES for three solar projects across the Midwest, one each in Illinois, Michigan, and Missouri.

The ramp up reflects the immediacy of Microsoft’s needs. When it comes to powering data centers, it’s hard to argue with solar. Quick to install, inexpensive, and modular, it’s a perfect fit for tech companies that need electricity now.

Microsoft has been tapping solar with some regularity. In February, it contracted 389 megawatts from three solar projects across Illinois and Texas. And late last year, the company announced it was anchoring a $9 billion renewable power coalition that’s organized by Acadia. The Redmond-based company’s own renewable portfolio already includes over 34 GW of capacity.

While tech companies have shown increasing interest in nuclear power in recent months, the cost and speed advantages of renewables have kept solar deals flowing.

Though renewable power on its own doesn’t have the same consistency as nuclear or natural gas, developers are increasingly pairing it with battery storage to provide around-the-clock electricity.

The combination is more expensive than solar or wind on its own, but given the rapid declines in cost for both solar and batteries, so-called hybrid power plants are beginning to encroach on prices for a new natural gas generating capacity. 

So far, new nuclear prices have remained significantly higher than either renewables or natural gas power plants.

For tech companies and data center developers, time is of the essence. Demand for new computing power has risen at such a rate that up to half of all new AI servers could be underpowered by 2027. Most new natural gas and nuclear power plants aren’t scheduled to come online until several years after that.

But renewables can start supplying power quickly, with utility-scale solar projects starting to produce electrons in about 18 months.

That speed has proven attractive, leading to some massive deals: Microsoft, for example, signed a deal with Brookfield Asset Management last summer for 10.5 gigawatts of renewable capacity in the U.S. and Europe, all of which will be delivered by 2030.



Source link

Funding & Business

The $14 Trillion US Stock Rally is Seeking a Fed Cut Playbook

Published

on




A $14 trillion rally that has taken stocks to record highs is heading for an inflection point next week, with investors expecting the Federal Reserve to resume cutting interest rates at its long-awaited monetary policy meeting.



Source link

Continue Reading

Funding & Business

Paul Krugman Says Trump’s Tariffs Make America More Like Denmark

Published

on




Nobel laureate Paul Krugman argues that tariff “chaos” and President Donald Trump’s immigration policies are the real drag on growth by raising costs, freezing investment, and ultimately hitting consumers. He says a 1950s-style manufacturing revival is illusory, tariff revenue won’t fix the deficit, and U.S. trade-rule credibility has suffered lasting damage. On New York City politics, he expects only marginal policy shifts if Democratic nominee for mayor Zohran Mamdani wins. (Source: Bloomberg)



Source link

Continue Reading

Funding & Business

Prices Go Up and Prices Go Down, Depending on Politics and Demand

Published

on



Donald Trump came to office promising lower prices, but that’s not exactly what happened.



Source link

Continue Reading

Trending