Global Electricity Demand Surge: Clean Energy's Rise and Challenges Ahead

A new IEA report highlights a rapid increase in global electricity demand driven by economic growth, heatwaves, and tech adoption. While renewable energy sources are expanding quickly, coal power persists due to high demand in countries like China and India. The report calls for improved energy efficiency and grid enhancements.

Paris [France], July 20 (ANI/WAM): The International Energy Agency (IEA) has reported a significant surge in global electricity demand, the highest in years, fueled by robust economic growth, intense heatwaves, and the escalating adoption of electric vehicles (EVs) and heat pumps.

According to the IEA's Electricity Mid-Year Update, global electricity demand is projected to rise by 4% in 2024, up from 2.5% in 2023. This marks the fastest annual growth rate since 2007, aside from the rebounds following the global financial crisis and the COVID-19 pandemic. Strong growth is anticipated to continue into 2025, maintaining a 4% increase.

Renewable energy sources are predicted to expand rapidly, with their share of global electricity rising from 30% in 2023 to 35% in 2025. Solar PV is expected to meet half of the growth in global electricity demand over the next two years, with solar and wind combined accounting for three-quarters of the increase. However, coal power generation remains stubborn due to significant demand in China and India, leading to a plateau in CO2 emissions, with a slight uptick anticipated in 2024.

(With inputs from agencies.)