Even as it stands things are kinda grim. There's around 30% spare capacity, but you also need that for spikes like increased usage during events like heatwaves. You never want to saturate energy capacity completely.

I agree that eventually there's going to be no choice but to start investing in renewables. That's going to be the only way to meet the demand, and renewables are already becoming cheaper than fossil fuels. But it is going to take time. Building stuff in the physical world takes years, and that requires sustained commitment at the political level.