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POWER: Global Power Demand to Rise by 7000TWh in Next 10 Years

POWER
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Global electricity demand is expected to increase by 7000TWh in the next ten years, six times higher than the growth in energy demand, IEA director Fatih Birol said.

  • The increase is primarily due to electrification of the manufacturing processes, increases in air conditioning, higher EV uptake and AI and data centres.
  • Electricity growth is largely driven by emerging countries, but power demand is also seen to increase in developed countries.
  • To facilitate the growth of power demand, governments need to address grid issues, with major bottlenecks in grids, Birol added.
  • In 2024, 700GW of renewable plants had been added to the grid, with 1,600GW of renewable projects waiting to be connected to the grid.
  • In Europe, five-times of the renewable energy projects added are waiting the queue to be connected.
  • Additionally, another challenge of electricity grids is the long waiting list for procurement of electricity devices, including cables, transformers and others.
  • Birol also stressed the importance of “right electricity pricing”, including the right system, taxes and subsidies.
  • The IEA sees nuclear energy making a comeback with 70GW of nuclear power plants currently under construction globally.
  • The revival of nuclear energy is driven by the expected growth in electricity demand and concerns over energy security.
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Global electricity demand is expected to increase by 7000TWh in the next ten years, six times higher than the growth in energy demand, IEA director Fatih Birol said.

  • The increase is primarily due to electrification of the manufacturing processes, increases in air conditioning, higher EV uptake and AI and data centres.
  • Electricity growth is largely driven by emerging countries, but power demand is also seen to increase in developed countries.
  • To facilitate the growth of power demand, governments need to address grid issues, with major bottlenecks in grids, Birol added.
  • In 2024, 700GW of renewable plants had been added to the grid, with 1,600GW of renewable projects waiting to be connected to the grid.
  • In Europe, five-times of the renewable energy projects added are waiting the queue to be connected.
  • Additionally, another challenge of electricity grids is the long waiting list for procurement of electricity devices, including cables, transformers and others.
  • Birol also stressed the importance of “right electricity pricing”, including the right system, taxes and subsidies.
  • The IEA sees nuclear energy making a comeback with 70GW of nuclear power plants currently under construction globally.
  • The revival of nuclear energy is driven by the expected growth in electricity demand and concerns over energy security.