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.The International Energy Agency (IEA) has reported that global demand for electricity is expected to increase by 4% in 2024, the third-fastest pace since 2007.
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.The analysis published on Friday highlights that record heat waves in 2024 — the warmest year on record worldwide — have driven up air conditioning demand, and that generative artificial intelligence is ramping up data centers' energy needs.