The CGN Delingha Photo voltaic Thermal Plant – Molten Salt Thermal Power Storage System, a 50MW power storage mission in Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province of China on April 15, 2025. Ma Mingyan / China Information Service / VCG through Getty Photos
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The world’s demand for oil, gasoline, renewables, coal, nuclear and hydropower hit a file excessive in 2024, with all rising year-on-year for the primary time in practically twenty years, in line with a brand new report by the London-based Power Institute (EI).
The 74th version of the Statistical Overview of World Power discovered that collectively wind and photo voltaic grew by 16 %, with China’s share contributing 57 % of latest additions.
“All main power sources, together with nuclear and hydro, hit file consumption ranges (for the primary time since 2006), a mirrored image of surging international demand,” mentioned CEO of EI Dr. Nick Wayth, in a press launch from the group. “No nation has formed this end result greater than China. Its speedy enlargement of renewable capability, alongside continued reliance on coal, gasoline, and oil, is driving international power developments. The dimensions and path of China’s power selections will probably be pivotal in figuring out whether or not the world can ship a safe, inexpensive, and low-carbon power future.”
Photo voltaic and wind grew at nearly 9 instances the speed of whole power demand in 2024, with fossil fuels growing slightly a couple of %.
“Wind and photo voltaic power alone expanded by a formidable 16% in 2024, 9 instances quicker than whole power demand. But this development didn’t totally counterbalance rising demand elsewhere, with whole fossil gas use rising by simply over 1%, highlighting a transition outlined as a lot by dysfunction as by progress,” EI mentioned.
The world’s rise in whole annual power demand was two %, reaching a file excessive of 592 exajoules.
China remained the most important emitter of worldwide carbon emissions, with 60 % of the nation’s electrical energy coming from coal, reported The Occasions.
“China presents a paradox: it’s each the world’s greatest driver of fresh power development and its largest supply of emissions. Its trajectory can have an outsized affect on the worldwide power future,” Wayth mentioned.
Electrical energy demand development was 4 %, persevering with to outpace power’s whole demand development, “an indicator that the age of electrical energy isn’t just rising however is shaping a brand new international power system,” EI mentioned.
Wayth predicted that solar energy era — which soared practically 28 % in 2024 — would surpass wind energy in 2025 or 2026, offered development trajectories proceed on their current course, The Occasions reported.
World carbon dioxide-equivalent power emissions rose by one % final 12 months, reaching file ranges for the fourth 12 months in a row, EI mentioned.
“This 12 months’s information displays a fancy image of the worldwide power transition. Electrification is accelerating, notably throughout creating economies the place entry to trendy power is increasing quickly. Nonetheless, the tempo of renewable deployment continues to be outstripped by general demand development, 60% of which was met by fossil fuels. The result’s a fourth consecutive 12 months of file emissions, highlighting the structural challenges in aligning international power consumption with local weather targets,” mentioned President of the Power Institute Andy Brown within the press launch.
Dr. Romain Debarre, companion and managing director of nonprofit the Power Transition Institute, mentioned rising geopolitical tensions in 2024 marked a turning level for power worldwide.
“Power safety, useful resource entry, and technological sovereignty are actually taking precedence over local weather targets,” Debarre mentioned within the press launch. “We’re witnessing the true risks of regional variations and the price of inaction in actual time. Report-high GHG emissions and hovering temperatures in 2024 are a deafening wake-up name. We’ve the methods, applied sciences, and know-how to ship the power transition with an built-in, safe, and people-centred method. Now, we should transfer from guarantees to motion, at scale and at velocity.”
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