Regional Drivers and Industrial Consumption

The increase in coal consumption is further supported by industrial demand and prevailing weather patterns in Asia. China has increased its use of coal for chemical production due to high oil prices, while an expected strong El Niño weather pattern is set to support demand in major consuming countries like India and Viet Nam. These regions are facing higher cooling needs alongside lower hydropower output, necessitating a reliance on coal-fired power. As a result, global coal demand, which was previously expected to decline slightly year-over-year, is now on an upward trajectory for 2026.

Production Constraints and Future Outlook

While demand is rising, global coal production is expected to decline in 2026, though it will remain above 9 billion tonnes for the third consecutive year. This decrease reflects a reduction in output from China, the world’s largest producer, following safety inspections triggered by a major mine accident in May. The narrowing gap between production and consumption is expected to ease the significant build-up of global coal inventories observed in recent years. International coal prices are also rising due to tight supply and higher demand from import-dependent countries such as Japan and Korea.

The outlook for 2027 remains uncertain and will depend heavily on the status of shipping traffic through the Strait of Hormuz. If LNG flows rebound and natural gas prices return toward pre-war levels, demand for coal could decrease. However, if the Strait remains largely closed to LNG shipments, the IEA warns that coal demand could increase further. Global production is expected to rise slightly in 2027 as output in China rebounds following the current period of intensified safety oversight.

EIA Projects Sustained Growth in Electricity Demand

The EIA forecast that total U.S. power consumption will climb from a record 4,195 billion kilowatt-hours (kWh) in 2025 to 4,270 billion kWh in 2026, and further to 4,349 billion kWh in 2027. The agency attributes this sustained upward trajectory to data centers serving artificial intelligence and cryptocurrency operations, alongside a growing shift away from fossil fuels for heating and transport across both residential and commercial sectors.

U.S. power demand, according to the outlook, is being shaped by structural changes in how energy is consumed nationwide, with technology infrastructure playing an increasingly central role.

West South Central Region Leads Electricity Sales Growth

Despite a temporary pause on connecting new data center projects to the grid in Texas, the West South Central region has emerged as the largest contributor to electricity sales growth in the EIA’s forecast period. This underscores the region’s continued significance as a hub for large-scale power-intensive facilities, even as grid interconnection challenges create short-term friction.

Sector-by-Sector Electricity Sales Breakdown for 2026

The EIA provided detailed projections for electricity sales by customer category in 2026. Commercial customers are expected to account for 1,542 billion kWh, surpassing residential consumers at 1,527 billion kWh and industrial customers at 1,059 billion kWh.

These figures represent notable milestones when placed against historical benchmarks. Residential electricity consumption reached an all-time high of 1,515 billion kWh in 2025, while commercial customers set their record at 1,493 billion kWh in the same year. Industrial electricity consumption peaked at 1,064 billion kWh back in 2000. The 2026 projections are set to exceed all prior records across residential and commercial categories.

Renewable Energy Share Rising as Coal Continues to Decline

The EIA outlook also highlights a continuing shift in the fuel mix used for power generation. The share of electricity generated from coal is projected to fall from 17% in 2025 to 16% in 2026, and further to 14% in 2027. Natural gas is expected to maintain a steady 40% share across both 2026 and 2027, unchanged from 2025.

Renewable energy’s share of total power generation is forecast to grow from approximately 24% in 2025 to 25% in 2026, reaching 27% by 2027. Nuclear power is expected to hold a consistent 18% share in both 2026 and 2027, matching its 2025 contribution.

Natural Gas Consumption Trends Across Key Sectors

On the natural gas side, the EIA projected that residential consumption will ease to 12.5 billion cubic feet per day (bcfd) in 2026, while commercial usage is expected to dip to 9.5 bcfd. Industrial consumption, however, is forecast to rise to 23.9 bcfd, and natural gas use for power generation is expected to reach 36.8 bcfd.

These projections sit alongside historically significant reference points. Residential natural gas consumption peaked at 14.3 bcfd in 1996, while commercial customers reached their all-time high of 9.9 bcfd in 2025. Industrial natural gas use hit its record of 23.8 bcfd in 1973, and power generation consumption matched its 2024 peak of 36.8 bcfd.

AI Data Centers and Electrification Driving the Outlook

The convergence of AI data center expansion and widespread electrification continues to define the trajectory of U.S. power demand through the remainder of the decade. The EIA’s forecast reflects a market in which commercial electricity sales are on pace to exceed residential demand for the first time in 2026, a threshold that underscores the growing weight of technology-driven consumption in the national energy profile.

A Dual Investment Strategy Targeting Energy Infrastructure

According to official stock exchange filings dated 10 September, approximately US$623 million has been earmarked for land acquisition, the construction of a new manufacturing facility, and the installation of production equipment. The primary objective is to expand production capacity for high-power generation engines. The facility is scheduled for completion in May 2028.

HD Hyundai stated that the investment is designed to respond to the expansion of the engine-based power generation market, driven by rising global electricity demand.

South Korean media reported that the shipbuilder plans to establish a production base for its HiMSEN engines in Onsan-eup, Ulju-gun, Ulsan, with an annual production capacity of 3 gigawatts (GW).

HiMSEN is a four-stroke engine developed by HD Hyundai. It features a lightweight, high-power, and high-efficiency design, with a broad range of models capable of operating on diesel and natural gas. HD Hyundai plans to increase its total HiMSEN engine production capacity from the current 3 GW per year to 7.2 GW by 2030.

Dedicated SMR Manufacturing Facility in the Pipeline

Separately, around US$178 million will be invested in the construction of a dedicated SMR manufacturing facility, supporting HD Hyundai’s entry into the major equipment manufacturing business for small modular reactors. Construction of this facility is expected to be completed by April 2029.

The Chosun Daily reported that the project is aimed at meeting surging electricity demand driven by the proliferation of AI data centres, which require stable and uninterrupted power supplies. Small modular reactors have emerged as a promising next-generation energy source in this context.

HD Hyundai has highlighted that it is accelerating its investment in SMR technology development, “positioning the company at the forefront of next-generation clean energy innovation.”

A Growing Partnership with TerraPower

HD Hyundai’s engagement in the small modular reactor space has been building steadily over recent years. In November 2022, the company invested US$30 million in TerraPower, a leading US-based SMR company founded by Microsoft co-founder Bill Gates.

In March 2025, HD Hyundai signed an agreement with TerraPower to expand the manufacturing supply chain for the commercialisation of Natrium reactors. Further reinforcing this relationship, the shipbuilder was named the preferred bidder to manufacture and supply key equipment for TerraPower’s Natrium reactors last May.

The HD Hyundai SMR initiative, backed by this multi-hundred-million-dollar commitment and its deepening collaboration with TerraPower, reflects the company’s clear intention to position itself as a substantial player in the global clean energy manufacturing landscape.

Under the approved framework, Germany’s transmission system operators (TSOs) will procure necessary capacity through competitive auctions to meet national reliability standards. The mechanism is technology-neutral, opening participation to existing and new capacity across power generation, storage, and demand response sectors. Contracts within the scheme can extend up to 15 years, with the first delivery set for 2031. For resources located in other EU member states, eligibility is extended to those with direct electricity network connections to Germany, except for initial tenders reserved for domestic capacity.

Climate Neutrality and Hydrogen Readiness Requirements

The electricity capacity mechanism integrates strict environmental criteria to align with broader climate objectives. Any capacity receiving a 15-year contract must operate on a climate-neutral basis by 2045 at the latest. Furthermore, new gas-fired power plants applying for long-term contracts are required to be hydrogen-ready, enabling a future fuel switch to reduce long-term fossil fuel dependence. Germany also intends to launch separate decarbonization tenders to support the conversion of parts of its existing gas-fired fleet to hydrogen, utilizing financial support to facilitate the transition.

Tender Volumes and Projected Economic Impact

The initial round of auctions is scheduled for 2026, focusing on securing additional long-term domestic capacity. A total of 9GW of new capacity will be released across two 4.5GW tender rounds in 2026, targeting systems capable of operating at full nominal output for at least 10 consecutive hours. Subsequent technology-neutral auctions are planned for 2027 and 2029. According to European Commission estimates, the scheme will cost between €1 billion and €3 billion in 2031, with annual costs projected to range from €0.9 billion to €2.3 billion through 2045. By providing these tools for managing security of supply, policymakers aim to create a reliable market for dispatchable power and flexible technologies as conventional generation is phased out.

The PPA between Fortum and Google will commence in 2028 with a reduced capacity allocation, scaling up to cover 50% of the Loviisa plant’s output during the years 2030 through 2049. The deal is structured to span the life extension period of the Loviisa facility and is expected to generate a predictable revenue stream that will enable Fortum to complete the substantial investments required to keep the plant operational well into the next decade.

The agreement also opens the door to a new 10 MWe capacity increase at the plant. Loviisa already has a 38 MWe capacity increase currently under way, which is expected to reach completion in 2028.

About the Loviisa Nuclear Power Plant

Loviisa, located in southern Finland, comprises two VVER-440 type pressurised water reactors and holds the distinction of being Finland’s first nuclear power plant. Unit 1 entered commercial operation in 1977, followed by Unit 2 in 1981. Together, the two units currently supply more than 10% of Finland’s total electricity.

In February 2023, the Finnish government granted Fortum an extension to the operating licence for both units, permitting the plant to continue generating power through the end of 2050. Fortum has since launched an investment programme of approximately EUR 1 billion aimed at extending Loviisa’s operational life to meet that deadline.

At present, around 80% of the projects needed for the service life extension — representing approximately EUR 700 million in investments — still lack a final investment decision. Fortum has stated clearly that without these investments, the plant would not be able to continue producing fossil-free electricity beyond 2030.

“Without significant investments in its lifetime extension, the plant would not be able to continue producing fossil-free electricity after 2030,” Fortum said. “Keeping it in operation for the coming decades will help stabilise electricity prices and support the long-term resilience of the Finnish electricity grid.”

Google’s EUR 13 Billion Finland Investment

The nuclear power deal comes alongside Google’s announcement of plans to invest EUR 13 billion (approximately USD 15 billion) in data centres and supporting infrastructure across Finland over the next two years, spanning 2027 and 2028. The investment includes partnerships in Hamina, Muhos, Vaala, and Kajaani.

Fortum CEO Markus Rauramo commented on the broader significance of the agreement: “Finland has a unique opportunity to build the next wave of sustainable growth and industrialisation from its low-carbon and reliable electricity system. A key enabler for this growth are long-term partnerships, such as the one we have sealed today between Fortum and Google. The importance of partnerships is highlighted in the current uncertain market environment, characterised by low visibility and highly volatile electricity prices. They bring the predictability required for investments in new, low-carbon electricity generation capacity, strengthening energy security, and digital and industrial infrastructure, and create jobs, innovation and prosperity for Finland. In addition, our collaboration with Google creates a strong foundation for the continued development and reliable operation of our Loviisa power plant in the coming decades.”

Google’s Position on Clean Energy in Finland

Google confirmed its commitment to supporting the plant’s continued role in Finland’s energy landscape: “Keeping this clean energy asset online will help to safeguard access to reliable, affordable electricity for Finland’s households, businesses, and industrial users alike. We’ll also work with Fortum to identify potential opportunities to develop new nuclear reactors at Loviisa.”

Aris Karcanias, Head of Energy, EMEA at Google, elaborated on the company’s approach: “We are proud to have called Finland home for the past 15 years. As we expand our operations in Finland, it is critical that we work with local energy partners like Fortum to increase our understanding of what the grid needs and invest in energy solutions that deliver long-term resilience and affordability for all electricity users. By supporting the extension of the Loviisa power plant’s lifespan, we are doing our part to preserve a critical energy source in the electricity grid. The plant is located close to our Hamina data centre, where we established roots when we came to Finland. As we grow, we are working with Fortum and other partners to bring new renewable energy generation capacity and flexible solutions to the Finnish electricity system. Our goal is to be a pioneer in how AI is responsibly integrated into European energy systems.”

Beyond the power purchase agreement, Google and Fortum have also signed a Memorandum of Understanding (MoU) to deepen collaboration in support of the growth of both companies in Finland and to bring additional electricity generation capacity to the country. The MoU focuses on the development of new nuclear power, renewable energy, and flexible energy solutions. Its stated aim is to ensure that as demand for AI services grows, new low-carbon generation is deployed to support the long-term electricity supply of Finnish consumers and businesses.

In a further step, the two companies have signed a Letter of Intent to promote new power generation and flexible capacity within Finland. As an initial measure under this arrangement, Fortum has signed an agreement with Google to optimise the battery storage system to be installed at Google’s Kajaani data centre. The new battery system carries a capacity of 94 MW, and Google has agreed to deliver it through a subcontractor.

New Nuclear Development Under Consideration

Fortum noted in its study on new nuclear power that potential investments in new nuclear capacity and long-term financial viability require strong customer demand secured by power purchase agreements, strategic investors and partners, an efficient financing and risk-sharing model, and robust project implementation.

“Google and Fortum are investigating business models that could improve the competitiveness of the new nuclear power project in Loviisa. In addition, the companies are investigating the suitability of Fortum’s land areas with network connections for Google’s future data centre needs,” Fortum said.

This clean energy Finland partnership represents a convergence of growing digital infrastructure demands and the need for reliable, low-carbon electricity generation, with the Fortum Loviisa facility positioned at the centre of that alignment.

The power plant is operated by SYNEQT, a wholly owned subsidiary of Evonik Industries, and a leading industrial infrastructure and energy services provider operating one of Germany’s largest chemical park sites, with four SGT-800 units installed. The Siemens Energy owned Industrial Demonstrator Turbine has replaced one of the four operational units. The original gas turbine remains reserved on site, helping to safeguard plant availability during validation campaigns. Such validation under operating conditions complements other in-house testing processes, to ensure new products meet specifications and deliver consistent performance. Key components for validation include blades, vanes, and burners. Because the Industrial Demonstrator Turbine operates within a multi-unit plant setup, technical risks can be limited to the turbine while business interruption risk is mitigated through built-in redundancy.

The concept enables long-term validation of new technologies, including gas turbine parts produced by additive manufacturing, as well as advanced materials and coatings directly in a commercial plant environment. Following earlier engineering, rig and component-level validation, continuous operation over thousands of hours can provide the operating experience and confidence needed to support qualification of next-generation gas turbine component design. These innovations can contribute to improvements in efficiency, reliability, manufacturability, and lifecycle performance across the gas turbine fleet.

Vanessa Bauch, Senior Vice President for Gas Services Distributed at Siemens Energy, said: “The industrial demonstrator engine enables us to validate innovative gas turbine technologies under real-world operating conditions. We thoroughly test all new components in our manufacturing facilities and dedicated test centers, while leveraging advanced simulation tools to anticipate their operational performance. However, for long-term validation under actual load and performance conditions, partnerships with customers such as SYNEQT are invaluable.”

“Open and trusted cooperation between OEMs and operators is essential to bring innovative solutions into the power generation industry faster. This project with Siemens Energy shows how technology validation and reliable plant operation can go hand in hand”, added Lorena Piles Tortajada, Plant Manager at SYNEQT.

Targeted for commissioning in FY27, the plant is expected to generate approximately 15–16 million units of clean electricity annually. Once operational, it is expected to increase the share of renewable electricity across WeWork India’s portfolio from close to 40% currently to approximately 50%, bringing the company closer to its 100% renewable electricity goal. Nearly 80% of the plant’s output will support WeWork India’s operations, including 10 centres in Bengaluru. The remaining 20% of the plant’s output will be used for their future growth.

Karnataka is a strategic location for the investment, with Bengaluru representing WeWork India’s largest market at 30 operational centres. The state accounts for approximately 30% of the company’s total electricity consumption across its portfolio, making it a natural market to drive renewable energy adoption at scale. The solar plant will enable WeWork India to meet a meaningful share of this demand through renewable power, while reducing its reliance on conventional grid electricity.

Commenting on the development, Karan Virwani, Managing Director & CEO, WeWork India, said, “Bengaluru is our largest market, making it the natural starting point for an investment of this scale. As we grow, we want a greater share of that growth to be powered by clean energy, but we also want sustainability to make strong business sense. Building our own renewable generation capacity allows us to do both – reduce the carbon footprint of our operations while creating greater certainty over energy costs for the next 25 years. This is the kind of long-term investment we believe can make sustainability an integral part of how we scale, rather than an initiative that sits alongside the business.”

This investment also reflects WeWork India’s approach towards combining sustainability outcomes with disciplined capital allocation. With a design life of 25 years, the solar plant will provide greater long-term visibility over electricity costs for a significant part of its Bengaluru operations, helping insulate the portfolio from fluctuations in grid tariffs. Solar power is expected to provide electricity at a more competitive cost over the life of the asset, translating into operating efficiencies at the centres it serves. By combining owned renewable generation, captive consumption and open access, WeWork India is creating a more diversified energy sourcing model designed to deliver both lower-carbon operations and greater cost certainty.

The project is part of WeWork India’s broader effort to embed sustainability into the growth and operation of its portfolio. As enterprises increasingly look to reduce the environmental footprint of their operations and supply chains, access to workspaces powered by cleaner energy can also help support their wider sustainability ambitions. Expected to be commissioned by Q1 2027, the solar plant marks WeWork India’s progression from renewable electricity procurement towards direct investment in renewable generation capacity. As the company scales its portfolio, this approach is intended to ensure that growth is accompanied by a more resilient, efficient and lower-carbon energy model.

A Record That Surpasses Its Korean Predecessor

The previous world-record solar cell efficiency of 26.3% for perovskite/CIGS tandem configurations was set just a year earlier by a joint research team from Seoul National University and the Korea Institute of Science and Technology (KIST). The fact that this benchmark has now been surpassed by another Korean research institution — KIER — reinforces the country’s leading position in next-generation thin-film solar cell technology.

Silicon solar cells, which currently dominate the global photovoltaics market, have reached a stage of technological maturity. Fundamental physical limitations now leave little room for meaningful efficiency gains within that technology. Against this backdrop, tandem solar cells are emerging as a compelling next-generation solution for high-efficiency photovoltaics.

The tandem approach works by stacking multiple solar cells, each with different absorption characteristics, to capture a broader range of sunlight wavelengths simultaneously. This multi-layer structure allows for considerably higher energy conversion than any single-junction cell can achieve on its own.

The perovskite/CIGS tandem solar cells developed by the KIER research team are configured with a perovskite cell at the top and a CIGS cell at the bottom. This design enables the two cells to absorb different wavelengths of sunlight at the same time. Since both perovskite and CIGS materials are well-suited for thin-film processing, the technology combines high efficiency with the practical advantages of light weight and structural flexibility.

However, integrating the two cell types introduces its own engineering challenges. The assembly process can potentially degrade the perovskite light-absorbing layer, while certain cell layers may absorb unwanted light, ultimately reducing overall efficiency.

To overcome these obstacles, the KIER research team undertook a comprehensive analysis of the root causes behind efficiency losses. This led to the development of an advanced interfacial layer material and processing technology specifically designed to protect the perovskite layer from potential damage during integration.

The team also optimized the structure of the top transparent electrode and charge transport layer to minimize undesired light absorption and prevent photocurrent loss. This dual-focus approach resulted in a laboratory-measured efficiency of 27% and the officially certified Fraunhofer ISE figure of 26.7%.

Broad Application Potential Across Industries

The developed technology is expected to increase electricity generation per unit area, expanding the potential applications of photovoltaic power generation considerably. The lightweight and flexible thin-film design makes perovskite solar cell systems promising candidates for deployment not only in buildings and automobiles but also as power sources for small satellites and space-based data centers — future applications where weight and space constraints are particularly critical.

Inyoung Jeong, a senior researcher at KIER who led the research, stated: “This achievement is significant in that both cell efficiency and stability can be enhanced by minimizing potential interfacial and optical losses during the integration of perovskite and CIGS. The resulting efficiency was also officially certified by a world-renowned institute and recognized as a world-record performance, underscoring Korea’s technological competitiveness.”

Looking ahead, the KIER research team will focus on scaling the technology so that large-area modules achieve efficiency levels comparable to those demonstrated in the small-area laboratory devices developed during this study. The team plans to collaborate with industry partners interested in mass production and commercialization, with active pursuit of technology transfer as a priority.

Over the longer term, the research program aims to expand into next-generation space solar cells — leveraging the high efficiency and low weight of tandem solar cells to enable reliable energy generation in space environments.

The contract was signed between Kazakhstan Nuclear Power Plants and Atomstroyexport, a subsidiary of Russia’s Rosatom state nuclear corporation, on the sidelines of the 11th Eastern Economic Forum in Vladivostok. The signing was attended by Chairman of Kazakhstan’s Atomic Energy Agency Almasadam Satkaliyev and Rosatom Director General Alexei Likhachev.

From Planning to Implementation

The agreement advances the Kazakhstan nuclear power project beyond early site selection and political decision-making toward detailed implementation. However, the project has not yet reached its final implementation stage. Under the intergovernmental agreement signed on May 28, 2026, the parties will continue the required procedures, including the necessary approval by the Kazakh government.

Kazakhstan approved the construction of a nuclear power plant through a national referendum held in October 2024. The facility is planned for the Zhambyl district of the Almaty Region, with construction expected to take approximately eight years. Rosatom was selected from a shortlist that also included China National Nuclear Corporation, France’s EDF, and Korea Hydro and Nuclear Power.

Energy Security at the Center of the Decision

The government views nuclear power as a direct response to a structural increase in electricity demand. Kazakhstan’s economy, industrial production, and infrastructure are expanding, while digitalization and the development of artificial intelligence are creating additional demand for stable electricity supplies. Unlike intermittent renewable sources, nuclear power is designed to provide continuous baseload electricity.

Globally, nuclear energy supplies nearly 10% of electricity generation and around 20% in advanced economies, according to the International Energy Agency. With global nuclear capacity approaching 413 gigawatts across 32 countries, nuclear power remains a significant source of low-carbon electricity. The IEA estimates that nuclear power currently prevents around 1.5 gigatonnes of carbon dioxide emissions and 180 billion cubic meters of gas demand each year.

For Kazakhstan, the appeal of nuclear generation is therefore twofold: it could provide additional stable capacity while supporting the country’s longer-term efforts to reduce the carbon intensity of its power sector.

Nuclear and Renewables as Complementary Sources

Nuclear power is not positioned as a substitute for renewable energy. The IEA has emphasized that nuclear and renewable generation can complement each other as countries work to decarbonize their electricity systems. For Kazakhstan, which holds significant wind and solar potential, the final energy model will likely depend on how nuclear generation is integrated with existing thermal plants and the expanding renewable sector.

Building Domestic Industrial Capabilities

The economic significance of the project could extend well beyond electricity generation. The Atomic Energy Agency has emphasized localization as a priority, aiming to involve Kazakh companies, specialists, goods, works, and services as extensively as possible throughout the construction process.

This focus carries particular weight given the complexity of a nuclear power plant. Its supply chain requires specialized equipment, engineering expertise, safety systems, and exacting technical standards. Building those capabilities domestically could give Kazakhstan an industrial base for future nuclear projects and related activities. The government has stated that the first plant should help create national competencies and a personnel reserve for the further development of the nuclear sector.

A Uranium Producer Enters the Nuclear Energy Space

Kazakhstan enters this new chapter from a distinctive position: it is the world’s leading uranium producer but does not currently generate any electricity from nuclear power. That contrast creates an opportunity to connect the country’s existing standing in the global uranium industry with a domestic nuclear energy value chain.

The first nuclear power plant could serve as the foundation for a broader nuclear-energy cluster, particularly if Kazakhstan proceeds with its stated plans to develop three nuclear power plants in total. The government has described the project as part of Kazakhstan’s efforts to strengthen energy independence and technological sovereignty.

A successful project could deliver reliable baseload electricity, support industrial growth, create specialized employment, and help establish domestic nuclear competencies. It could also provide Kazakhstan with greater flexibility as it works to balance rising electricity demand with its decarbonization objectives.

For a country already holding a leading position in the global uranium industry, the Kazakhstan nuclear power initiative could mark a meaningful transition from primarily supplying nuclear raw materials to producing nuclear energy at home.

The SHARE Virtual Power Plant initiative brings together an expansive coalition of industry partners including Rewiring America, Google, Carrier Global Corporation, Tesla, Sunrun, Renew Home, Demand Side Analytics, encoord, and others to deploy a coordinated network of home batteries, smart devices, and battery-enabled heat pumps. This network is built to reduce energy use during periods of high demand, create additional grid capacity, and help put downward pressure on energy rates — while participating households benefit through smarter energy management and next-generation home technology.

A New Approach to Meeting Rising Electric Demand

Electric demand is rising across the country as more businesses, vehicles, homes, and buildings rely on electricity. PG&E continues to build and modernize the electric system to meet long-term growth needs, including critical transmission and distribution investments.

SHARE adds a complementary, near-term pathway: investing directly in homes located where energy demand is growing. This proof-of-concept program is designed to demonstrate how targeted investments in residential properties can improve reliability and lower costs by making better use of flexible home energy resources alongside continued grid investment, expand capacity during periods of high demand, and support new and growing energy users more quickly.

“This is about delivering power at the speed our economy demands — while improving affordability and reliability for the people we serve,” said Chelle Izzi, Chief Commercial Officer at PG&E. “SHARE shows how investing in customers can unlock grid capacity, support growth, and bring real benefits back to communities.”

Enrolling Existing Devices and Deploying New Technologies

PG&E is working with Tesla, Sunrun, and Renew Home to enroll nearly 21,000 existing flexible energy devices into the SHARE program. Participating households will gain new ways to manage their energy costs and earn rewards for smart features they already use, while demand is shifted during peak periods to make better use of existing infrastructure — benefiting customers across the broader region. The resource is expected to begin supporting the grid as early as fall 2026.

“Home energy devices hold enormous, untapped capacity that can meaningfully improve affordability and reliability for all Californians,” said Mary Powell, Chief Executive Officer of Sunrun. “This initiative unlocks that potential while giving customers an opportunity to share in the economic benefits of helping improve their local grid.”

Carrier as Launch Partner for New Deployments

Carrier is the initiative’s launch partner for new technology deployments, providing its battery-enabled heat pump solution — including the Carrier Performance™ Series Variable-Speed Heat Pump with EnerSync™ — which automatically stores and shifts energy use to help lower costs for customers, maintain comfort, and support grid reliability during periods of peak demand.

“As energy demand grows, SHARE demonstrates how Carrier can help deliver distributed capacity with the firmness to scale as a fast and reliable grid resource,” said Hakan Yilmaz, President of Carrier Energy and Chief Sustainability Officer. “Carrier’s battery-enabled HVAC technology brings together our trusted comfort, market presence and dealer scale to help deliver homeowner value and reliable grid flexibility.”

Eligible customers in Santa Clara and Alameda counties will have the opportunity to receive new Carrier high-efficiency, battery-enabled heat pumps, lower monthly energy bills through smarter energy management, and greater comfort alongside improved home resilience.

Google Fully Funds the Program

SHARE is structured so that existing customers benefit from growing grid capacity needs and will be fully funded by Google to support customer incentives, technology deployment, and program delivery.

“As demand scales, our current electricity grid can bridge the gap — if we optimize it correctly,” said Amanda Peterson Corio, Global Head of Energy and Power at Google. “This program unlocks the potential of local distributed energy resources to strengthen grid capacity and resiliency while delivering meaningful benefits for local communities.”