According to the IEA, the combined share of solar PV and wind in the power generation in the European Union (EU) surpassed the combined share of coal and gas for the 1st time last year. In the US, solar PV and wind overtook coal with a 16% share, and the 2 technologies accounted for nearly 20% of the total generation in China.  

Nuclear power capacity expanded by 33% YoY with over 7 GW of new additions. Electricity generation from nuclear in 2024 rose by 100 TWh. This is one of the biggest increases in this power generation technology. It was, however, natural gas that saw the most demand growth among fossil fuels, led majorly by China, thanks to the higher power consumption. 

“The sharp increase in the world’s electricity use last year was driven by record global temperatures, which boosted demand for cooling in many countries, as well as by rising consumption from industry, the electrification of transport, and the growth of data centres and artificial intelligence,” reads the report. 

In all, the global energy demand grew by 2.2% last year, with emerging and developing economies accounting for more than 80% of the total. Demand is growing even in advanced economies ‘after years of declines.’ 

IEA Executive Director Fatih Birol opined that the strong expansion of solar, wind, nuclear power, and electric vehicles (EV) is increasingly ‘loosening the links between economic growth and emissions.’ Together with heat pumps, since 2019 these clean technologies now prevent 2.6 billion tons of CO2 emissions annually, according to the report writers. 

“What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies. The result is that demand for all major fuels and energy technologies increased in 2024, with renewables covering the largest share of the growth, followed by natural gas,” stated Birol.  

The complete report can be downloaded for free on the IEA website.