Key Points
- Clean energy stocks are expected to perform strongly in 2026, driven by rising power demand.
- The boom in AI and data centers is the primary catalyst, driving significant new electricity demand.
- Morgan Stanley predicts data centers will account for 75% of new power demand over the next five years.
- GE Vernova, Bloom Energy, and First Solar are well-positioned to benefit.
The clean energy sector is poised for a strong 2026, driven largely by the explosive growth of data centers. According to a new Morgan Stanley analysis, the insatiable demand for power from the AI industry is set to become a key driver for clean energy companies.
The investment bank forecasts a massive 150 GW of new power demand from data centers by 2030. That’s a huge number, accounting for about 75% of all new power needs over the next five years. This surge will push overall electricity consumption growth to nearly 3% a year, a dramatic increase from the flat levels of the past decade.
To meet this demand, utilities will need to build significant new power-generation capacity, and clean energy companies are well-positioned to benefit. Morgan Stanley has highlighted three companies as particularly well-positioned to ride this wave.
GE Vernova, with its wide range of power generation technologies, is expected to see a boost in orders.
Bloom Energy, which manufactures fuel cell systems, offers a reliable power source that is expected to be in high demand. And First Solar, a leading solar panel manufacturer, is set to capitalize on the increased focus on solar power.
After a period of policy uncertainty, the market is now shifting its focus to these strong demand fundamentals. With data centers needing a range of power sources—from natural gas and solar to storage and fuel cells—the outlook for the clean tech space is brighter than ever.
