Redefining Energy
176. Renewables are dominating the Electrification of an Energy-hungry world (with Ember) - Apr 25
Apr 14, 2025
Nicolas Fulghum, an analyst at Ember and co-author of their Global Electricity Review, discusses the explosive growth of electricity demand in 2024. He reveals that electricity consumption is rapidly rising, doubling the last decade's growth, primarily fueled by renewables. Solar energy takes center stage as a major driver, with generation expected to double in just three years. Fulghum highlights how the electrification of transportation and the demands of AI-driven data centers are reshaping the energy landscape, setting the stage for a clean energy future.
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Quick takeaways
- In 2024, global electricity consumption surged by about 4%, driven primarily by electrification in transportation and heating systems.
- Solar power emerged as the dominant and fastest-growing electricity source, doubling its generation in three years and significantly impacting demand.
Deep dives
Surge in Electricity Demand
Electricity demand experienced a significant surge in 2024, growing by approximately 4%, surpassing the 10-year average. This increase is attributed to structural drivers such as electrification in transportation through electric vehicles (EVs), electrification of heating systems via heat pumps, and rising demand from data centers and artificial intelligence technologies. Notably, the consumption growth from these sectors accounted for about 0.7 percentage points of the overall increase. The stark contrast in demand was highlighted by new data showing that in 2024, the world grid added the equivalent of Japan's energy consumption, marking a notable uptick in electricity demand compared to previous years.
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