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World Energy Investment 2025 Africa
…energy projects in Africa has fallen by approximately one-third in the last ten years, reaching USD 20 billion in 2024, largely due to a reduction of more than 85% in spending by Chinese DFIs. While representing a small share of overall spending, the public sector and DFIs are particularly important for projects in nascent markets, using new technologies or in commercially unviable areas where it can be challenging for private sector investment relying on concessional funds to ensure profitability. Against this backdrop, private equity and venture capital play a key role in financing early-stage businesses, especially in energy…
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Breakthrough Agenda Report 2025 Power
…2024 to around 13.9 Gt of CO2, following an increase of 1.6% in 2023.The global emissions intensity of electricity generation is on a contracting trend, with a record 3% reduction in 2024 compared to 1% in 2023. This improvement reflects the rapid growth in renewable energy and nuclear electricity production relative to rising demand. Cost On an levelised cost of electricity (LCOE) basis, renewables remained the most cost-competitive option for new electricity generation in 2024.Onshore wind remained the most affordable source of new generation globally in 2024, with a weighted average LCOE of USD 0.034…
- Executive summary
- Power
- Hydrogen
- Road transport
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Global Energy and Climate Model Understanding GEC Model scenarios
…and how these interact with the evolution of energy technologies and markets. By comparing the WEO scenarios, readers can assess what drives the various outcomes, and the opportunities and pitfalls that lie along the way. None of the individual WEO scenarios should be regarded as a forecast, and do not contain a single view about what the long-term future might hold. Instead, the scenarios seek to enable readers to compare different possible versions of the future, and the levers and actions that produce them, and to gain insights into the future of global energy.The Current Policies Scenario (CPS)…
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Global Energy Review 2026 Electricity supply
The increase in low-emissions power generation in 2025 outstripped total electricity supply growth Global electricity generation increased by over 850 TWh in 2025, with renewables accounting for the vast majority of growth. Together, generation from renewables and nuclear power rose by more than the total global increase in generation. In contrast, generation from fossil fuels declined: a modest rise in natural gas-fired generation was outweighed by a decline for coal. Global coal-fired generation fell by around 0.5%, marking the first decrease since the Covid‑driven drop in 2020 and the first decline outside of a period of…
- Key findings
- Global trends
- Oil
- Natural gas
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Global Energy Review 2026 Global trends
…earlier (2.7%). Sharp growth in renewables in electricity generation in China helped to push down coal consumption, with the knock-on effect of improving primary energy intensity.The United States saw a notable acceleration in its energy demand growth, with demand increasing by more than 2% in 2025. This represents the second fastest increase since 2000, excluding years in which the US economy was rebounding from a recession. The United States accounted for nearly one-quarter of global energy demand growth. Part of this acceleration was due to gas-to-coal switching in electricity generation, but a harsh winter…
- Key findings
- Global trends
- Oil
- Natural gas
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+ 9 pages
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Breakthrough Agenda Report 2025 Steel
State of the transition Emissions Total CO2 emissions remain largely unchanged from recent years, while direct CO2 emissions intensity has seen an uptick since 2021. Both must fall in the coming years to get on track with the IEA’s Net Zero Emissions by 2050 Scenario (NZE Scenario). Cost Blast furnace-basic oxygen furnace (BF-BOF) routes make up about 70% of global steel production today.Hydrogen direct reduced iron electric arc furnace (H2 DRI-EAF) routes are emerging as a preferred low-emissions option in certain regions. Early commercial plants using 100% hydrogen blends are estimated to cost 50…
- Executive summary
- Power
- Hydrogen
- Road transport
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+ 4 pages
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Ukraine’s Energy Security As Ukraine heads into another heating season, six measures can help improve energy security
…measures, can serve as a strong means of protecting key energy facilities. Ukraine has been investing in lighter passive defence – such as gabions and sandbags, as well as anti-drone netting – as well as a second level of protection whereby reinforced concrete structures are erected around important infrastructure such as substations and autotransformers. These measures, combined with air defence, have successfully repelled some recent attacks. However, further investment remains necessary as Russia continues to update its attack strategies and increase the number of drones and missiles deployed.Efforts to optimise supply chains for key energy equipment also remain crucial, as…
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Global Energy and Climate Model Net Zero Emissions by 2050 Scenario (NZE)
…do the NZE scenario relate to the pursuit of a 1.5 °C outcome? The Intergovernmental Panel on Climate Change (IPCC) Working Group III Sixth Assessment Report on Mitigation of Climate Change , released in April 2022, assessed a large number of scenarios that led to at least a 50% chance of limiting the temperature rise to 1.5 °C in 2100. As outlined in the World Energy Outlook 2025, in contrast with previous editions, the NZE Scenario is no longer a limited-overshoot scenario, as warming peaks at over 1.6 °C and remains above 1.5 °C for several decades before fall...
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Energy and AI Executive summary
The transformative potential of AI depends on energy There has been a step change in the capabilities of artificial intelligence (AI), driven by falling computation costs, a surge in data availability and technical breakthroughs. AI is the science of making machines capable of learning to perform tasks that traditionally required human intelligence. AI is emerging as a general-purpose technology, much like electricity. Today, it can generate text and videos, accelerate scientific discovery in fields like medicine or materials science, make manufacturing robots smarter and more productive, drive commercial taxis in complex city landscapes, and detect threats to critical infrastructure…
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What Next for the Global Car Industry The importance of the growth in EV sales for the car industry
…differed. Chinese automakers and Tesla were particularly successful at quickly reaching economies of scale for electric cars. Before 2020, only 6 battery electric models had reached the production threshold of 50 000 units per year – 3 were Chinese models, 2 were Tesla models, and 1 was the Nissan Leaf.While incumbent original equipment manufacturers (OEMs) initially focused on nickel-based batteries because of their superior energy density, Chinese manufacturers succeeded in advancing lithium iron phosphate (LFP) chemistries, which rely less on critical minerals and are therefore cheaper. By 2024, all OEMs either sold or planned to sell cars with LFP batteries…
