The nuclear energy Electricity generation is likely to break records in 2025 as more countries invest in reactors to drive the shift towards a low-carbon global economy, while renewable energy is likely to overtake coal as an energy source early next year . data has shown.
China, India, Korea and Europe are likely to have new reactors online, while several in Japan are also expected to return to generating power, and French production should increase, according to a recent report on the state of global electricity markets published by the International Energy Agency (AIE).
Demand for electricity is also expected to increase around the world, driven largely by the move to a low-carbon economy. Electric vehicles and heat pumps, as well as many low-carbon industrial processes, require electricity instead of oil and gas.
Continuous rapid growth of renewable energy supply It means that these additional demands will likely be met entirely by generation from wind, solar and other clean energy sources. Renewables will account for about a third of total global electricity generation by early next year.
Dave Jones, chief knowledge officer at energy think tank Ember, said the findings marked a potential turning point. “It’s the beginning of the end of the fossil fuel era,” he said. “Finally, it appears that the world has passed peak fossil energy, a crucial milestone in the energy transition. [This report] shows that 2023 will mark the end of fossil energy growth. Starting this year, we are likely to be in a new era of declining fossil energy.”
But he added: “Peaking is not enough: we need CO2 deep and fast.2 cuts to stay within our shrinking carbon budget. “We are doing the right things, we just have to do them even faster.”
Fatih Birol, executive director of the IEA, hailed the developments as a positive sign for the fight against climate breakdown, although he said much more efforts were needed.
“The energy sector produces more carbon dioxide emissions than any other in the global economy, so it is encouraging to see that the rapid growth of renewable energy and a steady expansion of nuclear power are on track to match all the increase in global electricity demand over the coming years. three years,” he stated.
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“This is largely due to the huge push behind renewables, with increasingly cheaper solar power leading the way and supported by the major comeback of nuclear power. While more and rapid advances are needed, these are very promising trends.”
The IEA Annual analysis of market evolution and policies, Electricity 2024.showed that global electricity demand increased by 2.2 percent in 2023 and was likely to reach around 3.4 percent between 2024 and 2026. Most of the increase was expected to come from fast-growing economies: mainly China, India and Southeast Asia.
However, the IEA also warned that energy capacity growth remains uneven around the world. For example, while electricity supply has generally increased in Africa, on a per capita basis, energy use across the continent has remained stagnant for more than three decades.
This is a brake on economic and social developmentAs people in poverty turn to polluting energy sources such as biomass and paraffin. The lack of available electricity also prevents children from accessing education and endangers health every time hospitals experience blackouts.
Birol said: “The international community needs to work with African governments to enable urgent progress.” [in electricity access] that is necessary.”
Africa has Some of the world’s greatest potential for solar and wind generation. and many of the vital minerals needed for renewable generation components, but potential generators face major obstacles in the form of a high cost of capital for renewable energy projects. Many governments are urge institutions like the World Bank to adjust their practices to facilitate such development.