I agree with that in terms of residential energy sectors. The construction of real estate and living spaces in the united states is not keeping pace with population demand. This reduces electrical consumption by a significant factor via producing a higher population density per household (with lower energy consumption) than would otherwise be necessary. It also artificially boosts the value of real estate via it becoming a more scarce resource.

Total number of bitcoin users doubling every 12 months or so is the type of massive growth investors look for in an industry. Electrical growth isn't likely to grow at a pace anywhere resembling that due to some energy systems becoming more efficient over time. Electronics like tvs, computers and other things are sometimes becoming more efficient as time passes due to transistors being built smaller with less electrical consumption. Energy efficient lightbulbs and similar "green" products are also becoming more mainstream which could go some ways towards thwarting the growth options of businesses in the energy industry.