The International Energy Agency (IEA) recently released its forecast predicting a significant rise in global electricity demand over the next five years. Industry, data centers, and air conditioning systems are expected to be major drivers of this growth.
The IEA predicts a 4% annual increase in global electricity consumption through 2027. Meeting this demand will require a massive increase in generating capacity, equivalent to the entire capacity of Japan added annually.
Emerging and developing economies are poised to account for 85% of this demand growth, with China playing a significant role. Chinese industries such as solar panel, battery, and electric vehicle manufacturing are expected to drive the country’s annual electricity growth by 6%.
The United States will also experience significant growth, albeit at a lower rate than China. By 2027, the US is expected to add as much electricity demand as California currently consumes.
Encouragingly, low-carbon energy sources such as renewables and nuclear power are expected to fulfill the majority of this demand growth. This indicates a global shift toward cleaner energy sources to meet the rising electricity needs.
Original source: Read the full article on TechCrunch
