Despite the risk of global economy slowdown, the global growth in demand for electricity accelerated substantially: in 2023, global electricity consumption grew by 2.5%, and in 2024 – by 4.3%. In absolute terms, the growth reached 1,080 TW*h exceeding the total annual electricity consumption in France and Germany.
The report sees huge potential for solar panels in the future energy mix
The world is on an “unstoppable” shift towards renewable energy but the phase down of fossil fuels is not happening quickly enough, a new report says.
By Tsvetana Paraskova Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel restrictions in many countries. OPEC and its Russia-led allies promised to remove 9.7 million bpd from the market starting in May. But oil storage…
By Gail Tverberg The energy needs of the world’s economy seem to be easy to model. Energy consumption is measured in a variety of different ways including kilowatt-hours, barrels of oil equivalent, British thermal units, kilocalories and joules. Two types of energy are equivalent if they produce the same number of units of energy, right?…
As the contributions of solar PV and wind power to electricity systems keep growing around the world, governments and industry are challenged to address the critical work of integrating these variable renewables into their electrical grids. This is essential to make sure that countries can benefit from higher shares of renewable power while ensuring grid…
