Overview

• Electricity demand is forecast to grow by 4% in 2024 and 2025, the highest rate since 2007.
• Renewables are projected to provide 35% of global electricity by 2025, up from 30% in 2023.
• Solar power alone is expected to meet half of the global demand growth through 2025.
• Heat waves and economic growth in China and India are driving increased electricity consumption.
• Higher energy efficiency standards are needed to manage the rising demand for cooling.