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World demand for energy is increasing, coal-fired power plants are expected to be more active this year

2024-07-20 10:50:44Kosova&Bota SHKRUAR NGA REDAKSIA VOX

World demand for energy is increasing, coal-fired power plants are expected to

Global electricity demand will grow at its fastest pace in nearly 20 years this year, driven by rising demand for air conditioning as temperatures rise, the International Energy Agency (IEA) said in a report.

The trend, which is expected to continue into 2025, will support the continued use of coal power, even as renewable energy production increases in parallel.

Increased use of air conditioning is expected to continue as the main driver of demand growth, after a year of record global temperatures and heat waves pushing grids to maintain a reliable but dirtier supply of baseload from sources like coal.

According to the IEA report, growth in global electricity demand this year and next will be among the fastest in the last two decades.

On the other hand, the increase in electricity demand from artificial intelligence is also drawing attention to demand patterns from data centers, raising questions about deployment, demand forecasts and energy efficiency.

Global energy consumption is expected to grow by around 4% in 2024, which would be the largest growth rate since 2007, with the trend expected to continue at the same pace in 2025, compared to an increase of demand of 2.5% in 2023, IEA data showed.

India is expected to lead demand growth next year, at around 8% in 2024, while China is expected to register a growth rate of 6% annually, down 1% from 2023 as the Chinese economy continues to restructure. While the nuclear industry aims to triple capacity by 2050

The European Union is expected to pull back from a two-year contraction by growing 1.7%, but uncertainty remains about how the pace will continue, while the United States should also rebound to 3% after falling in 2023 in mild weather.

Renewable energy production is also expected to increase over the coming years, with the total share of the global supply source expected to reach 35% in 2025, up 5% from 2023, which is expected to push solar's share and of wind to pass the share of hydropower in the global mix.

Total renewable generation is also forecast to overtake coal-fired electricity generation in 2025, but the most polluting source is expected to remain 'elastic' in 2024, adding less than 1% depending on hydropower generation, particularly in China.

As a result, carbon emissions from the global energy sector are falling, with slight growth expected this year before falling again in 2025, the IEA said.


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