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This preview is part of the Future Forecast Report: U.S., based on discussions held at the Energy Council New York Advisory Board in February 2026.

Bringing together leading investors, lenders, and asset managers, the session explored how capital is being deployed across U.S. energy markets amid shifting policy, rising power demand, and growing geopolitical uncertainty.

In this snippet of the report, we break down how hyperscale data centre operators are driving new technical, commercial, and infrastructure opportunities across the power value chain.

Behind the large data center growth story lie some interesting technical wrinkles, turf fights, and niche opportunities.

Bespoke energy efficiency tech

While data centers have rigorous power quality and reliability standards, their energy consumption can be moderated or balanced with the grid’s peak-to-trough cycles through smart energy efficiency measures.

Managing energy loads, especially cooling, is always a fundamental driver of data center design and engineering, but there is also a market for bespoke energy-saving technologies.

“There are physical infrastructure plays for data center efficiency which are interesting on the funding side,” said one advisory board member.

Stepping on the gas

As data center developers rush to get projects constructed and energized, many are purchasing on-site generation sources.

While solar and batteries are a choice for some, many opt for the more consistent and reliable electrons from stacks of reciprocating natural gas engines, i.e., gas generators.

Stacks of recip engines with output ratings from 2MW to 10MW can be co-located with data centers to supplement grid power, provide backup, or both.

But, as one advisory board member explained, demand for recips is outpacing supply, leading to long lead times for buyers, and they pencil out best in regions with abundant natural gas supply.

“We’re seeing them built in states such as Pennsylvania, West Virginia, and Texas.”

Kicked off the island 

In some areas, data center construction is moving so quickly that the complex engineering and utility policymaking required to connect these high-capacity loads is looming as a factor that could delay operational dates.

In response, some data center developers have examined off-grid options. But such “islanded” outposts will encounter electrical oscillation and frequency issues,” according to the group.

“Reliability will be an issue with any islanded solution,” said one member.

At the same time, the group observed that in states with power markets that are still vertically integrated – of which there are some 35 in the United States – energy utilities diligently protect their franchises and are generally effective at persuading regulators that any large generation resources in their territory should be under their control.

Taken together, these dynamics highlight how hyperscale data centre growth is not only driving demand, but actively reshaping how energy infrastructure is designed, financed, and delivered.

From efficiency technologies to on-site generation and grid integration challenges, hyperscalers are influencing both the technical and commercial frameworks of the power sector.

At the same time, as investors weigh opportunities across adjacent technologies such as CCS, hydrogen, and battery storage, a consistent theme emerges: capital is increasingly flowing toward scalable, reliable, and cash flow-generating solutions.

Capital is increasingly flowing toward scalable, reliable, and cash flow-generating solutions.

This reflects a broader shift toward disciplined, fundamentals-led investing, where execution certainty and long-term energy security remain paramount.

Continue reading.

What’s next?

These issues will be explored in greater depth at Energy Council New York (June 26-17, 2026) where industry leaders, investors, and policymakers will examine how energy and wider infrastructure markets are recalibrating and where the next wave of opportunity is emerging.