Clean sources of electricity generation are set to cover additional electricity demand through to 2026, a new report by the International Energy Agency (IEA) has found.

Renewable sources are growing quickly, and nuclear power is on track to reach an all-time high next year, enabling low-emissions generation to outpace electricity demand growth, the IEA’s Electricity 2024 report, has found.

The report analyses the electricity market developments and policies, forecasting for demand, supply and carbon dioxide emissions from the sector through to 2026.

While global growth in electricity eased slightly to 2.2 per cent in 2023 due to falling electricity consumption in advanced economies, it is projected to accelerate to an average of 3.4 per cent from 2024 to 2026. Around 85 per cent of the increase in the world’s electricity demand through 2026 is expected to come from outside advanced economies.

The report predicts that renewables will make up more than one-third of total electricity generated by early 2025, overtaking coal. By 2025, nuclear power generation is also predicted to reach a record high globally as output from France increases and several plants in Japan re-open. New reactors opening in China, India, Korea and Europe will also add to this rise.

Faith Birol, executive director at the IEA said: “The power sector currently produces more CO2 emissions than any other in the world economy, so it’s encouraging that the rapid growth of renewables and a steady expansion of nuclear power are together on course to match all the increase in global electricity demand over the next three years.”

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