Renewables Surge to Meet Record Global Energy Demand in 2024
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📰 The quick summary: Global energy demand hit a record high in 2024 with renewable energy growing rapidly alongside fossil fuels to meet increasing worldwide electricity needs.
📈 One key stat: Wind and solar energy expanded by 16% in 2024, growing nearly nine times faster than total energy demand, demonstrating the accelerating pace of the renewable energy transition.
💬 One key quote: “China presents a paradox: it is both the world’s biggest driver of clean energy growth and its largest source of emissions. Its trajectory will have an outsized impact on the global energy future,” said Dr. Nick Wayth, CEO of the Energy Institute.
1️⃣ The big picture: For the first time since 2006, all major energy sources including oil, gas, renewables, coal, nuclear, and hydropower reached record consumption levels in 2024. Global energy demand rose by 2% to a record high of 592 exajoules, reflecting surging needs worldwide. The rapid expansion of renewable capacity, particularly in China which contributed 57% of new wind and solar additions, is reshaping the energy landscape. However, despite impressive renewable growth rates, their expansion couldn’t fully offset rising demand elsewhere, resulting in fossil fuel use growing by over 1% and pushing global emissions to record highs for the fourth consecutive year.
2️⃣ Why is this good news: Wind and solar energy are revolutionizing the global energy system, growing almost nine times faster than overall energy demand in 2024. Solar power generation soared by nearly 28%, positioning it to potentially surpass wind power by 2025 or 2026 if current growth continues. Electricity demand is consistently outpacing total energy demand growth, signaling an accelerating transition to electrification worldwide. The renewable energy sector continues to demonstrate impressive resilience and growth despite geopolitical tensions and economic challenges, showing that clean energy technologies are becoming increasingly competitive and essential components of the world’s energy mix.
3️⃣ What’s next: Global leaders must prioritize aligning energy consumption with climate goals, addressing the fourth consecutive year of record emissions. With renewable deployment still outpaced by overall demand growth, strategic policies are needed to accelerate the transition while ensuring energy security. China’s energy choices will be pivotal in determining whether the world can deliver a secure, affordable, and low-carbon energy future.
Read the full story here: EcoWatch – Renewables Join Fossil Fuels in Supplying Record Energy Demand: Report
