Venture Capital
Andrea Alms Video: Money In Motion 24 - The Energy Hungry Data Storage Market - Part 2
September 2022 - Venture Capital
TRANSCRIPT:
Hello. My name is Andrea Alms. I am technology investor and financial manager and this is your money in motion. On the last episode we introduced the energy hungry data storage market recall data centers use more electricity than entire countries. The global data center storage market is witness to grow by 107 billion U.S. dollars at a compound average growth rate of 28% from 2019 to 2023. More and more companies are switching to cloud based data centers because they see the advantage of it flexibility, scalability and cost cutting. Many of us may be misled into believing that moving to the cloud can be environmentally friendly. The degree of this friendliness depends on the cloud provider you choose for your data storage. According to the 2017 Greenpeace report on the greenest IT companies when searching for more current data, I came across this report of the 13 companies in this report. In the state of Virginia, only Facebook and Microsoft have shown some success in security significant supply of renewable energy in Virginia. If Amazon and other Internet companies continue their rapid expansion of data centers in the state. And while Dominion Power continues its strategy, this may result in significant new investment in fossil fuel infrastructure. Or these companies may not simply be buyers of energy. Instead, these cloud companies will be and are producers of energy. How data centers are a component of the digital infrastructure that is being built to support the immense amount of data people are consuming on a daily basis. For example, this could be from streaming computers applications in the cloud. In short, Google and the Big Five have become a virtual integrated information electric utility, as you can see from this energy site, the California site owned by NRG Energy and BrightSource Energy, Google. Thank you. This is your money. Your money in motion.