"The report by the International Energy Agency said renewable energy, led by solar power, will grow faster than any other major source in the next few years and that coal and oil demand will likely peak globally by the end of this decade. The report noted that many natural gas projects were approved in 2025, due to changes in U.S. policy, indicating worldwide supply will rise even as questions remain about how it will be used."
"China, meanwhile, has accounted for half the global growth in demand for oil and gas, and more than half for electricity, since 2010. "In a break from the trend of the past decade, the increase in electricity consumption is no longer limited to emerging and developing economies," IEA Executive Director Fatih Birol said in a release. Birol said that electricity use is also rising in advanced economies."
Electricity demand will rise much faster than overall energy growth in coming decades, increasing pressure on energy systems and need for diverse supply. Renewable energy, led by solar, will expand fastest, while coal and oil demand are likely to peak globally by the end of this decade. Natural gas project approvals in 2025 will raise worldwide supply, though end-use questions remain. Global nuclear capacity is set to grow by at least a third by 2035. Rising data center, heating, cooling, and electrification demand requires greater system resilience. Growing economies in India, Southeast Asia, the Middle East, Africa, and Latin America will increasingly shape markets, and electricity use is rising in advanced economies.
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