QAZAQ GREEN.  Global energy demand grew at a significantly faster pace in 2024, nearly doubling its recent average, as electricity consumption surged worldwide, according to the latest Global Energy Review released by the International Energy Agency (IEA). The IEA report provides the first comprehensive global assessment of 2024 energy trends, covering demand, supply, emerging technologies, and energy-related carbon dioxide (CO2) emissions.

The data shows that global energy demand rose by 2.2% in 2024—a rate lower than the 3.2% global GDP growth but well above the 1.3% average annual demand increase seen between 2013 and 2023. Emerging and developing economies accounted for over 80% of the global energy demand increase, despite slower growth in China, where energy consumption rose by less than 3%, half the rate of 2023. Meanwhile, after years of decline, advanced economies saw energy demand grow by nearly 1%.

The power sector led the surge in energy demand, with global electricity consumption rising by nearly 1,100 terawatt-hours (TWh), or 4.3%—almost double the annual average growth of the past decade. The record-breaking global temperatures in 2024 drove demand for cooling, while industrial activity, transport electrification, and the rapid expansion of data centers and AI also contributed significantly to the rise.

The majority of the increase in electricity demand was met by low-emission energy sources. The world added around 700 gigawatts (GW) of new renewable energy capacity, setting a new record for the 22nd consecutive year. Nuclear power capacity also expanded, marking the fifth-highest level of growth in three decades. As a result, 80% of the global electricity generation increase in 2024 came from renewables and nuclear, which together accounted for 40% of total electricity generation for the first time.

Natural gas-fired power generation also rose steadily, helping to meet rising electricity demand.

Among fossil fuels, natural gas saw the strongest demand increase in 2024, rising by 115 billion cubic meters (bcm), or 2.7%—well above the past decade’s annual average of 75 bcm.

Meanwhile, oil demand growth slowed to just 0.8%, with oil’s share of total energy demand falling below 30% for the first time in history—a sharp decline from its 46% peak 50 years ago. A major factor was the 25% surge in global electric vehicle (EV) sales, with EVs accounting for one in five cars sold worldwide, reducing oil consumption in road transport and offsetting increased demand from aviation and petrochemicals.

Coal demand increased by 1%, only half the rate of the previous year. However, extreme heatwaves in China and India, which drove up cooling needs, accounted for over 90% of the global increase in coal consumption, underscoring how extreme weather events impact energy demand patterns.

Despite the sharp rise in power consumption, the rapid adoption of clean energy technologies helped limit the increase in CO2 emissions. Global energy-related CO2 emissions rose by 0.8% to 37.8 billion tonnes, largely due to record-high temperatures driving energy demand. However, thanks to the deployment of solar PV, wind, nuclear power, electric vehicles, and heat pumps since 2019, global emissions are now being reduced by 2.6 billion tonnes annually, equivalent to 7% of total emissions.

CO2 emissions in advanced economies declined by 1.1% to 10.9 billion tonnes, returning to levels last seen 50 years ago—despite their economies being three times larger today. However, most of the emissions growth in 2024 came from emerging and developing economies outside China. While China’s emissions growth slowed, the country’s per capita emissions are now 16% higher than those of advanced economies and nearly double the global average.

“There are many uncertainties in today’s world and competing narratives about energy, but this new data-driven IEA report provides clear facts on what is happening globally,” said IEA Executive Director Fatih Birol.

“What is certain is that electricity demand is rising fast, driving overall energy consumption to the point that even advanced economies have reversed years of decline. This has led to increased demand for all major fuels and technologies, with renewables accounting for the largest share, followed by natural gas.

Meanwhile, the rapid expansion of solar, wind, nuclear power, and EVs is helping to decouple economic growth from emissions. The declining growth rate of oil demand, the rise of EVs, and the growing role of electricity are all trends the IEA identified early on, and they are now playing out clearly in the data for 2024,” Dr. Birol concluded.