Global Energy Demand Surges by 4.3%, Driven by Cooling Needs and Renewables
Rising electricity use in emerging economies, extreme heat, and industrial growth fuel demand, met largely by solar energy, natural gas, and a nuclear power revival.
- Global energy demand grew by 4.3% in 2024, nearly double the average growth rate of the past decade, according to the IEA.
- Over 80% of the demand increase came from emerging economies, with India and China leading due to extreme heat and rising use of air conditioning.
- Renewable energy, led by solar power, and natural gas were the primary sources meeting the increased demand, while nuclear energy saw a resurgence with six new reactors completed globally.
- Electric vehicles, data centers, and artificial intelligence systems significantly contributed to the rise in electricity consumption.
- Fossil fuel demand, including coal and oil, continued to grow but at a slower pace, reflecting ongoing dependency despite renewable energy expansion.
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