Annual consumption predicted to rise 4% a year by 2027
Surging power demand means the world is entering “a new age of electricity” bringing evolving challenges for governments in ensuring supply that is secure, affordable and sustainable, the
This has been fuelled in part by industry where, alongside the traditional power-hungry sectors, the rapidly expanding electricity-intensive manufacturing of solar panels, batteries, electric vehicles and associated materials played a significant role. Air conditioning, EV adoption, data centres and 5G networks were additional contributors.
“Over the period 2025-2027, we estimate electricity consumption will grow on average by 3.3 per cent per year. Renewables will continue to see strong growth of 12 per cent over the outlook period. We anticipate solar PV and wind power generation to be the primary drivers of increased renewables, averaging growth of 32 per cent and 12 per cent, respectively,” the IEA says.
“While emerging and developing economies are set to drive the large majority of the growth ... consumption is also expected to increase in many advanced economies after a period of relative stagnation.”In the US, a strong increase in electricity demand is expected to add the equivalent of California’s current power consumption to the national total over the next three years., only returning to its 2021 levels by 2027, following sharp declines in 2022 and 2023 triggered by the energy crisis.
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