Global Electricity Demand Is Soaring

Economic growth, higher demand for cooling amid heat waves, the rapid rise of data centers, and continued electrification are set to push the growth in global electricity demand to one of the highest paces in the past 20 years in 2024 and 2025, the International Energy Agency (IEA) said on Friday. Electricity demand is set for growth of about 4% globally this year, higher than the 2.5% growth last year, the IEA’s Electricity Mid-Year Update report showed. The expected growth this year would be the highest since 2007, excluding…