· 2 min read
illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:
🗞️ Driving the news: Global energy demand rose 2.2% in 2024, significantly above the decade average, driven largely by record-high temperatures and increased electricity use, according to the IEA
• Emerging and developing economies contributed over 80% of the surge
• The power sector accounted for three-fifths of the total increase
🔭 The context: 2024 was the hottest year on record, with heatwaves in China and India sharply increasing coal usage
• Rising energy consumption also stemmed from industrial activity, transport electrification, data centres, and AI technologies
• The power sector saw electricity use jump by nearly 1,100 TWh—more than double the recent annual average
🌍 Why it matters for the planet: While CO₂ emissions rose by 0.8%, clean energy mitigated sharper increases
• Renewables dominated energy supply growth, with 700 GW of new capacity added
• Coal and oil usage rose modestly, but their relative shares declined, showing a slow transition toward cleaner energy
⏭️ What's next: Electricity demand is expected to continue rising rapidly, challenging efforts to reduce emissions
• The IEA highlights the need for faster clean energy deployment to manage climate impacts
• Despite the coal peak, fossil fuel reliance remains a significant hurdle
💬 One quote: “What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it,” – Fatih Birol, Executive Director, IEA
📈 One stat: Carbon dioxide emissions rose by 0.8% to 37.8 billion metric tons in 2024
Click for more news covering the latest on energy transition
