Over the 2024-2025 forecast period of this report, global electricity consumption is expected to increase at the fastest pace in years, fuelled by robust economic growth, intense heatwaves and continued electrification worldwide. The 4% growth expected for 2024 is the highest since 2007, with the exceptions of the sharp rebounds in 2010 after the global financial crisis and in 2021 following the Covid-induced demand collapse. The growth is driven by strong electricity demand in multiple regions and countries, especially in the People’s Republic of China (hereafter, “China”), India and the United States. We expect this demand trend to continue in 2025, with growth also at 4%.
Executive summary – Electricity Mid-Year Update - July 2024 – Analysis - IEA (2024)
