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Jefferies reports that natural gas equipment bottlenecks are easing as manufacturers GE Vernova, Siemens, and Mitsubishi announce capacity expansions. Increased demand for continuous power, especially from data centers, has prompted this response.

Jefferies anticipates 19 GW of total available equipment capacity by 2028, rising to 49 GW and 76 GW by 2029 and 2030, respectively. Behind-the-meter generation is identified as a key immediate solution, expected to grow by 25 GW by 2030. The firm notes that while large loads will eventually seek cheaper grid power, off-grid solutions can remain viable for an extended period.