[IEA: Global Electricity Demand to Maintain Rapid Growth This Year and Next]
The International Energy Agency (IEA) said in a report on July 23 that despite recent Middle East conflicts disrupting global natural gas markets and driving up power generation costs in many regions, global electricity demand is still expected to maintain rapid growth this year and next, as electricity demand continues to increase in sectors such as industry, household appliances, cooling, EVs, and data centers. The report projects that global electricity demand will grow by 3.6% in 2026 and 3.8% in 2027, both higher than the 2025 growth (3%). By 2027, global electricity consumption is projected to rise to 30,700 TWh. The report expects renewable energy to surpass coal in 2026 to become the world's largest electricity source. In 2026, solar PV power generation is projected to increase by approximately 600 TWh, and PV power generation is expected to surpass wind power, becoming the second largest renewable energy source globally after hydropower.