According to a new report from the International Energy Agency (IEA), renewable energy and nuclear power will meet the majority of the growth in global electricity demand by 2025, reducing the likelihood of a significant increase in carbon emissions from the power sector. Global electricity demand growth, which slowed slightly to 2% last year due to the global energy crisis and extreme weather in some regions, is expected to accelerate to an average of 3% over the next three years.
Driving force behind emerging Asian economies
More than 70 percent of the increase in global electricity demand will come from China, India and Southeast Asia, as advanced economies seek to increase the use of electricity to replace fossil fuels in the transportation, heating and industrial sectors. China is expected to account for a third of global electricity consumption by 2025, up from a quarter in 2015.
Current trends in electricity generation
Natural gas-fired power generation in the European Union is expected to decline in the coming years, while significant growth in the Middle East is expected to partially offset this decline. Expected declines in coal-fired generation in Europe and the Americas will be offset by an increase in Asia-Pacific. CO2 emissions from global power generation are expected to remain at about the same level, despite increased use of nuclear power and restarts in some countries.
Climate targets to be achieved
Fatih Birol, executive director of the IEA, said that renewables and nuclear power are developing fast enough to meet the growing global demand for electricity, suggesting that we are heading toward a tipping point for power sector emissions. Governments must allow low-emission sources to develop even more rapidly to ensure a secure supply of electricity while meeting climate goals.
