Data Center Power Demand to Double; Insurers Urge Urgent Safety Measures for Enterprise Energy Storage

According to a Central News Agency report, the IEA projects that global data center electricity consumption will rise from approximately 415 TWh in 2024 to 945 TWh by 2030. Cathay Century Insurance stated that as enterprises actively deploy behind-the-meter energy storage, energy management and safety have become vital governance issues. The company held a seminar on May 22nd covering energy trends and safety management. In Taiwan, a hub for semiconductor manufacturing, stable power is critical. Improper design or maintenance of storage systems can lead to thermal runaway and fires, potentially causing losses of tens to hundreds of millions of NTD. Consequently, insurers are now incorporating safety management maturity into their underwriting decisions.