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By: Jason Plautz & E&E News
CLIMATEWIRE | Global electricity demand will step up its rate of growth over the next three years — but the additional power use will be covered by low-emissions sources, according to a report released Wednesday by the International Energy Agency.
The IEA’s Electricity 2024 report forecasts that renewable energy is set to overtake the world’s use of coal by early 2025 and will account for more than one-third of the world’s total electricity generation. At the same time, nuclear power generation is forecast to reach record highs by 2025, rebounding from recent declines.
By 2026, the report projects, renewables and nuclear will account for almost half of the world’s power generation. In 2023, by contrast, they were less than 40 percent. The outlook is key because the United Nations has said a move to clean energy will be key to limiting global warming to 1.5 degrees Celsius — or as close to that as possible — compared with the preindustrial era.
IEA Executive Director Fatih Birol said in a statement that it’s “encouraging that the rapid growth of renewables and a steady expansion of nuclear power are together on course to match all the increase in global electricity demand over the next three years.”
“This is largely thanks to the huge momentum behind renewables, with ever cheaper solar leading the way, and support from the important comeback of nuclear power, whose generation is set to reach a historic high by 2025,” Birol said. “While more progress is needed, and fast, these are very promising trends.”
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This material is based upon work supported by the National Science Foundation under Grant #2201631. Any opinions, findings, and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the National ScienceFoundation.
