Global grid spending increased from $300 billion in 2020 to $480 billion in 2025, according to JP Morgan, and will reach $5.8 trillion between 2026–2035, with 12% ($700 billion) projected for digital-related grid capex.
The US alone will spend $1 trillion over the coming decade on grid resilience, with the bulk of it, 63%, on the distribution side of the grid.
In Europe and the Asia Pacific, spending will be even greater — about $1.1 trillion in Europe and $2.6 trillion in the Asia Pacific, with two-thirds from China.