While power outages caused by tropical cyclones (TCs) already pose a great threat to coastal communities, how—and why—these risks will change in a warming climate is poorly understood. To address this need, we develop a robust machine learning model to capture TC-induced power outage risk. When applied to 900,000 synthetic TCs downscaled from simulated historical and future climate conditions under a strong warming scenario, we find outage risk in the United States and Puerto Rico is expected to increase broadly by the end of the century, with some states seeing increases of 60% and higher. Further, we discover that rising rainfall rates will play an increasingly important role in TC-induced power outage risk as the climate changes, explaining more than 50% of the projected change in risk in some regions. These insights are important for guiding decision-makers in their future outage risk investment and mitigation plans.