US Fossil Fuel Power Investment Set to Outpace China in 2026

The IEA reports a rise in U.S. electricity demand, driven by AI facilities and data centers that can consume 1–several gigawatts—similar to a Western city. Natural-gas plants are described as dispatchable, filling the gap while complementing slower-to-build options like nuclear and renewables.

IEA forecasts US spending on coal and gas power plants to hit $50B this year

The IEA projects U.S. spending on coal and gas power plants to reach $50 billion in 2026, the highest level of new gas-fired plant investment in 25 years. Global orders for new natural-gas capacity total 130 GW in 2025, led by the United States and the Middle East. In Q1 2026, U.S. customers ordered about 20 GW of gas turbines, as turbine prices rise with demand outpacing supply.

IEA forecasts US spending on coal and gas power plants to hit $50B this yearU.S. fossil fuel power generation spending may surpass that of China for the first time in decades

The added fossil-fuel capacity expands electricity supply for energy-intensive sectors. Bitcoin mining and other blockchain activities rely on electricity cost and availability for profitability. The IEA warns that AI-driven demand, backed by new fossil-fuel generation, makes the energy market “more crowded and potentially more expensive” for miners.

IEA forecasts US spending on coal and gas power plants to hit $50B this yearU.S. fossil fuel power generation spending may surpass that of China for the first time in decades

The IEA notes natural gas “fills the gap between immediate power demand and slower-to-build alternatives.” It projects global energy investment at $3.4 trillion, with electricity absorbing most capital, and expects U.S. fossil-fuel power investment to exceed China’s by 2026, a reversal not seen in decades.

IEA forecasts US spending on coal and gas power plants to hit $50B this yearU.S. fossil fuel power generation spending may surpass that of China for the first time in decades

The two excerpts differ on U.S. investment: one cites $50 billion, the other $5 billion. Neither gives China’s spending, only that the U.S. figure is higher. The magnitude gap remains unresolved, and details on coal versus gas allocation are missing.

IEA forecasts US spending on coal and gas power plants to hit $50B this year

• “The US is pouring money into fossil fuel power generation at a pace not seen in a generation.” — IEA, World Energy Investment 2026 report

IEA forecasts US spending on coal and gas power plants to hit $50B this year

• “According to the IEA's World Energy Investment 2026 report, Final Investment Decisions for new gas-fired power plants in the US are expected to reach their highest levels in 25 years.” — IEA, World Energy Investment 2026 report

IEA forecasts US spending on coal and gas power plants to hit $50B this year

• “'htmlGolden Ten Data reported on July 1 that, due to companies rushing to build data centers and a surge in gas turbine orders, investment in fossil fuel power generation in the United States is expected to surpass China for the first time in decades.” — Golden Ten Data, cited by Bitget

U.S. fossil fuel power generation spending may surpass that of China for the first time in decades

• “IEA data shows that US customers ordered about 20 gigawatts of gas turbines in the first quarter of 2026.” — Golden Ten Data, cited by Bitget

U.S. fossil fuel power generation spending may surpass that of China for the first time in decades

The IEA expects data-center electricity use to keep rising through 2030, sustaining demand for fossil-fuel capacity. Monitoring turbine orders, price trends, and U.S.–China investment comparisons will be essential to gauge whether the spending surge leads to lasting shifts in global energy financing.

IEA forecasts US spending on coal and gas power plants to hit $50B this year