Regulations for behind-the-meter power are emerging

Data center operators are struggling to secure enough electricity generation to support rapid expansion. Meta, Google, AWS and Microsoft have announced plans to invest $635-660 billion in data center expansion in 2026, with Oracle, Coreweave and Equinix contributing an additional $88 billion. In many global markets, existing power generation, transmission and distribution systems cannot meet this demand within 5 years.

As a result, many operators — especially in the US — are turning to dedicated power systems that bypass traditional grids. These behind-the-meter (BTM) systems provide electricity directly to facilities via private transmission. Recent reports from Bloom Energy (2026 Data center power report) and clean energy data company Cleanview (Bypassing the grid: how data centers are building their own power plants) suggest that approximately one-third of new data center projects intend to rely on BTM energy.