Agency
The International Energy Agency’s Electricity 2026 report, released on Friday, forecasts that the share of renewables and nuclear in the world’s power mix will rise to 50% by 2030, with natural gas also growing to help meet surging electricity demand.
According to the new IEA report, global power demand is expected to grow by more than 3.5% per year on average through the end of this decade as the “Age of Electricity” accelerates.
This growth is driven by expanding industrial electrification, the uptake of electric vehicles, greater use of cooling, and the spread of digital technologies.
According to the report, electricity demand is on course to grow at least 2.5 times as fast as overall energy demand through 2030 as the Age of Electricity takes hold.
Globally, renewables, buoyed by record solar PV deployment, are closing in on coal generation, and nuclear output has hit new highs.