The United States will need a massive 500-1,000 GW of clean firm generation by 2050 – for reference, the IEA recently put the total global installed capacity from all sources at 9,400 GW. Driven by grid decarbonization and load growth from electrification and new demand from sources like AI data centers, this trend powers investment opportunities up and down the capital stack and across technologies, including many such as nuclear and geothermal that dominated headlines and deal flow in 2024.

CREO's latest report from David Siap examines the technologies that will meet the demand for clean firm generation and gives a perspective on how to invest in the sector, which is comprised of many players at varying stages of maturity.  Clean firm startups have raised over $10B to date, much in the last few years, and while the sector shows no signs of slowing down it’s not without risk.