Report explores emerging trends like growing electrification, expanding power systems and increasing share of weather-dependent energy sources in generation mix.
Key Highlights of Report
Global
- Global energy demand rose by 4.3% in 2024 and forecast to continue to grow at close to 4% out to 2027.
- China emerged as highest consumer of electricity leaving behind US or EU.
- Global CO2 emissions from electricity generation are projected to stabilize from 2025 to 2027, following 1% rise in 2024.
- Renewables (solar, wind, hydropower) set to meet about 95% of electricity demand growth from 2025-2027.
India
- Electricity demand surged 5.8% in 2024, and forecast to grow at an average 6.3% annually from 2025- 2027.
- India’s thermal power capacity will rise to 283 GW by 2032.
- Coal remains dominant with 74% of India’s power mix in 2024.
- Renewable energy share to grow from 21 % (2024) to 27% (2027), with solar PV leading the expansion.
- Nuclear power rose 13% in 2024, and setto triple from 8.2 GW to 22.5 GW by 2031-32.
Reasons behind rise in Electricity Demand
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