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Electricity Mid-Year Update 2025 Demand: Global electricity use to grow strongly in 2025 and 2026
Global electricity demand is forecast to increase by an average annual 3.3% in 2025 and by 3.7% in 2026, a moderation from 4.4% in 2024 but still some of the highest growth rates observed over the last decade. This is a slight downward revision from our previous forecast in February 2025 of 4% growth for this year and 3.8% in 2026. The change is partly due to the IMF's downgrade of the global GDP growth outlook compared with its January 2025 update amid elevated uncertainty surrounding trade tariffs and economic prospects. Despite these downside risks…
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Solar PV
…is added annually through the end of this decade. Even so, low costs, faster permitting and broad social acceptance are set to continue to drive the accelerating adoption of solar PV. As a result, capacity is set to more than double between 2025 and 2030 compared with the 2019 to 2024 period.
A growing share of variable renewable sources such as solar also comes with challenges. Curtailment levels and instances of negative electricity prices have been increasing in many markets. A rapid increase in power system flexibility and grid investment is necessary to integrate future growth securely and cost-effectively.
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Hydrogen
Low-emissions hydrogen projects are set to grow strongly despite wave of cancellations and persistent challenges
Worldwide hydrogen demand increased to almost 100 million tonnes in 2024, up 2% from 2023 and in line with overall energy demand growth. The vast majority of this was met by hydrogen produced from fossil fuels without measures in place to capture associated emissions. Sectors that have traditionally used hydrogen, such as oil refining and industry, remained the biggest consumers.
The uptake of low-emissions hydrogen is not yet meeting the expectations set by industry and governments in recent years, especially in light of…
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Electrolysers
Country and regional highlights
Progress is spread across different continents, from China, which leads on installed capacity, to the European Union, which have adopted important policies, and other regions like India and the Middle East moving forward with a small number of large-scale projects
Technology deployment
Global installed electrolyser capacity reached 1.4 GW at the end of 2023, almost double the one at the end of 2022
Technology manufacturing
Innovation
Policy
Investment
Acknowledgements
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Bioenergy
Led by bioenergy, renewable fuels could approach 6% of energy demand from industry, buildings and transport in 2030
By 2030, renewable fuels are set to account for 5.5% of energy consumption from the industry, building and transport sectors. Demand is due to expand in all regions, but it is concentrated in China, Brazil, Europe, India and the United States, which collectively support more than two-thirds of the forecasted growth. All five countries and regions have dedicated support policies for several – and, in some cases, all – renewable fuels. These vary by fuel, sector and country, but they often include…
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Natural Gas
The coming LNG wave is set to profoundly transform the global gas market
Global gas markets, which have been tight and volatile for several years, are set to undergo major changes by the end of this decade. The unfolding coming wave of liquefied natural gas (LNG) production capacity is set to rebalance the global gas market, enhance energy supply security and improve the affordability of natural gas.
About 300 billion cubic metres (bcm) per year of LNG export capacity – a record – is set to be added by 2030, primarily supported by liquefaction capacity additions in the United States and Qatar…
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Coal
Global coal demand to remain on a plateau in 2025 and 2026
Despite unusual trends across several major markets in the first half of 2025, global coal demand is likely to remain broadly unchanged to 2027 as underlying structural drivers of the world’s coal use remain stable.
Global coal demand increased to a new all-time high in 2024 of around 8.8 billion tonnes, up 1.5% from 2023, as rising consumption in China, India, Indonesia and other emerging economies more than offset declines in advanced economies in Europe, North America and northeast Asia. However, several of those…
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Carbon Capture, Utilisation and Storage
Carbon Capture, Utilisation and Storage
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Data Centres
Data Centres
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Oil
Oil
