The IEA expects global electricity demand to soar in 2024 and 2025 due to economic growth, continued electrification, and higher temperatures.
Economic growth, higher demand for cooling amid heat waves , the rapid rise of data centers , and continued electrification are set to push the growth in global electricity demand to one of the highest paces in the past 20 years in 2024 and 2025, the International Energy Agency IEA said on Friday. Electricity demand is set for growth of about 4% globally this year, higher than the 2.5% growth last year, the IEA ’s Electricity Mid-Year Update report showed.
Coal-fired power generation is set to remain resilient this year, due to strong electricity demand growth, which would lead to a slight increase in the emissions from the global power sector, the IEA said. “Despite the rapid growth of renewables, the brisk increase in electricity consumption, especially in China and India, is resulting in the use of more coal-fired generation to meet demand,” the agency said in the report.
Electricity Demand Supply Heat Waves Data Centers Economy
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