In 2024, global energy demand surged to a record high, marking the first increase across all major energy sources, including renewables, fossil fuels, nuclear, and hydropower, since 2006, according to the Energy Institute’s Statistical Review of World Energy. Notably, wind and solar energy saw remarkable growth, expanding by 16%, significantly outpacing overall energy demand, which rose by 2% to reach 592 exajoules. China played a critical role in this dynamic, contributing over half of the renewable energy additions while still relying heavily on coal and fossil fuels, making it both the largest driver of clean energy growth and the biggest emitter of carbon emissions globally.
Despite the increasing adoption of renewables, the overall momentum towards reducing emissions remains stunted, as fossil fuel use grew slightly above 1%, leading to a fourth consecutive year of record carbon emissions. The continuing rise in electricity demand, which spiked by 4%, indicates a shift toward a new energy paradigm dominated by electrification, particularly in developing economies. Experts, noting geopolitical tensions and the urgent need for more coherent energy policies, stress the importance of moving quickly from commitments to tangible actions that can effectively support a secure, integrated energy transition while addressing climate change challenges. The potential for solar energy to outpace wind generation by 2025-2026 underscores the possibilities within the sector, yet the overarching narrative remains one of an energy transition fraught with significant structural challenges.
Source: https://www.ecowatch.com/global-energy-demand-record-2024.html