"The world’s demand for electricity is rising at its fastest rate in years, driven by robust economic growth, intense heatwaves and increasing uptake of technologies that run on electricity such as EVs and heat pumps, according to a new report by the IEA. At the same time, renewables continue their rapid ascent, with solar PV on course to set new records. . . . Global electricity demand is forecast to grow by around 4% in 2024 and {will do so} into 2025, with growth around 4% again . . . . {The} share of global electricity supply {generated by renewables is} forecast to rise from 30% in 2023 to 35% in 2025. The amount of electricity generated by renewables worldwide in 2025 is forecast to eclipse the amount generated by coal for the first time. Solar PV alone is expected to meet roughly half of the growth in global electricity demand over 2024 and 2025 - with solar and wind combined meeting as much as three-quarters of the growth. Despite the sharp increases in renewables, global power generation from coal is unlikely to decline this year due to the strong growth in demand, especially in China and India . . . As a result, carbon dioxide (CO2) emissions from the global power sector are plateauing, with a slight increase in 2024 followed by a decline in 2025. …Some of the world’s major economies are registering particularly strong increases in electricity consumption. Demand in India is expected to surge by a massive 8% this year . . . . China is also set to see significant demand growth of more than 6% . . . . After declining in 2023 amid mild weather, electricity demand in the United States is forecast to rebound this year by 3% . . . . By contrast, the European Union will see . . . growth forecast at 1.7% . . . . In many parts of the world, increasing use of air-conditioning will remain a significant driver of electricity demand. Multiple regions faced intense heatwaves . . . . With the rise of artificial intelligence (AI), the electricity demand of data centres is drawing increased attention . . . ."
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From an International Energy Agency news release entitled "Global electricity demand set to rise strongly this year and next, reflecting its expanding role in energy systems around the world: Growth in demand in 2024 and 2025 is forecast to be among the highest levels in the past two decades, new IEA report finds, with solar PV alone expected to meet half of the increase." (July 19, 2024)
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