The International Energy Agency (IEA) has reported that global demand for electricity is expected to increase by 4% in 2024, the highest since 2007. Warmer temperatures, economic growth, and artificial intelligence (AI) were cited as key drivers.
Electricity consumption in China and India is expected to increase by 6.5% and 8% respectively. The expansion of electric vehicles in China, as well as heatwaves and GDP growth in India, were factors behind the increases.