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Electricity 2024 Report
February 4 , 2024
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- The International Energy Agency's (IEA) released a report named "Electricity 2024".
- The report forecasts a robust global surge in electricity demand, growing at an average rate of 3.4% from 2024 through 2026.
- China, India, and Southeast Asian countries are set to be at the forefront of this demand surge.
- By 2026, nearly half of the world's electricity is expected to be generated by low-emission sources, including renewables and nuclear power.
- India’s annual average electricity demand growth is pegged at 6.5% over 2024-2026.
- Electricity use per capita in India and Southeast Asia is rapidly rising.
- It has been effectively stagnant in Africa for more than three decades.
- Electricity demand in the European Union declined for the second consecutive year in 2023.
- Global CO2 emissions from electricity generation are expected to fall by more than 2% in 2024 after increasing by 1% in 2023.
- Extreme weather events triggered major power outages in 2023 in the United States and India.
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