Record electricity demand reshapes global energy landscape

Global energy demand rose by 2.2% in 2024, nearly doubling the recent decade’s average, as electricity consumption soared worldwide, the International Energy Agency (IEA) reports. This growth reversed years of decline in advanced economies, where demand ticked up nearly 1%, while emerging and developing countries contributed over 80% of the overall increase. The rise was driven by extreme weather, industrial activity, electric transport, and expanding data infrastructure, pushing electricity use up by 4.3%, almost twice the average over the past ten years.

 

…The rise was driven by extreme weather, industrial activity, electric transport, and expanding data infrastructure

 

To meet this demand, renewable and nuclear sources supplied 80% of new electricity generation, with wind and solar installations hitting record levels yet again. Natural gas demand saw the sharpest jump among fossil fuels, while oil’s share of global energy dipped below 30% for the first time in over half a century. Despite rising power use, energy-related CO2 emissions grew just 0.8%, as clean technologies like electric vehicles and heat pumps now prevent 2.6 billion tonnes of emissions annually, highlighting a growing decoupling of emissions from economic expansion.

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