Growth in global energy demand surged in 2024 to almost twice its recent average, with the rapid growth of electricity worldwide driving up consumption of renewables, gas, coal and nuclear, according to the International Energy Agency’s (IEA) Global Energy Review.
Global energy demand grew at a faster-than-average pace in 2024 as the consumption of electricity rose around the world—with increased supply of renewables and natural gas covering the majority of additional energy needs.
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The report finds that global energy demand rose by 2.2% last year, with emerging and developing economies accounting for over 80% of the increase in global energy demand in 2024.
The sharp increase in the world’s electricity use last year was driven by record global temperatures, which boosted demand for cooling in many countries, as well as by rising consumption from industry, the electrification of transport, and the growth of data centres and artificial intelligence.
The amount of new renewable power capacity installed worldwide rose to around 700GW, setting a new annual record for the 22nd consecutive year.
Nuclear power capacity additions reached their fifth highest level in the past three decades. As a result, 80% of the increase in global electricity generation in 2024 was provided by renewable sources and nuclear, which together contributed 40% of total generation for the first time.
Gas saw the strongest increase in demand among fossil fuels in 2024, rising by 115 billion cubic metres (bcm), or 2.7%, compared with an average of around 75bcm annually over the past decade.
“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies,” IEA executive director Fatih Birol said.
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“The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas. And the strong expansion of solar, wind, nuclear power and EVs is increasingly loosening the links between economic growth and emissions.”
The latest edition of the Global Energy Review is the first global assessment of 2024 trends across the energy sector. Based on the most recent data, it covers energy demand, supply, the uptake of new energy technologies and energy-related carbon dioxide (CO2) emissions.
