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World Energy Outlook 2025 Executive summary
In a volatile world, energy security takes centre stage Pressing threats and longer term hazards are elevating energy to a core issue of economic and national security. Energy is at the heart of today’s geopolitical tensions, with traditional risks to fuel supply now accompanied by restrictions affecting supplies of critical minerals. The electricity sector – so essential to modern economies – is also increasingly vulnerable to cyber, operational and weather-related hazards.Decisions taken by energy policy makers will be crucial to address these risks, but they do so against a complex backdrop:Geopolitical fragility coexists with subdued oil prices. Ongoing…
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Coal 2025 Executive summary
Global coal demand in 2025 is set to remain close to 2024 levels amid unusual regional trends Key factors such as weather, fuel prices and policy decisions all shaped global coal consumption in 2025, driving changes in demand that often ran counter to recent country or regional trends.In India – one of the traditional engines of coal demand growth – an early and strong monsoon season depressed electricity demand and boosted hydropower output. As a result, the country’s annual coal power generation is set to decline year-on-year for only the third time in the past five decades. In…
- Executive summary
- Demand
- Supply
- Trade
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Energy Efficiency 2024 Executive summary
A year on from the historic agreement to double global energy efficiency progress, the world is not yet on track to achieve it At the COP28 summit at the end of 2023, nearly 200 countries reached a landmark agreement to work together to collectively double the global average annual rate of energy efficiency improvements by 2030. This was the strongest recognition yet by governments of energy efficiency’s central role in clean energy transitions, providing an important focal point for greater national ambition and accelerated action. A year on from this historic agreement, however, this has yet to translate into faster…
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Electricity 2026 Flexibility
Evolving generation and demand patterns reshape power system needs The Age of Electricity is underpinned by rising investments in new resources. These include growing converter-based variable solar PV and wind, battery storage systems, as well as spatially and temporally concentrated demand from EVs, heat pumps and large loads like data centres. Combined with the expansion and upgrade of transmission and distribution grids, substantial increases in the flexibility of power systems are required for secure and cost-effective integration of generation, load and storage technologies that characterise this new era.Last year’s report, Electricity 2025, focused on measures to…
- Executive summary
- Demand
- Supply
- Grids
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World Energy Investment 2025 Source, flows and destination of global energy-related investment spending
Most energy investment is supported by commercial finance and made by private sponsors, but the sources of finance vary widely by technology and region. Today, 75% of the available finance for investment in the energy sector is commercial finance, but domestic and international public finance play important roles that vary widely across regions and sectors.
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Coal Mid-Year Update 2025 Trade
Global coal trade reached an all-time high in 2024 Global coal trade reached a new all-time high in 2024, with total volumes estimated to be 1.55 Bt, surpassing the 1.5 Bt mark for the first time. Thermal coal trade rose by 28 Mt to reach 1 180 Mt. This growth was primarily driven by strong import demand in Asia, especially from China. The country experienced growth in imports, with coal imports reaching new highs. Imports increased by 14% up to 548 Mt, resulting in total annual imports surpassing 500 Mt for the first time. This volume is more than…
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KfW P2X Development Fund
…aiming to catalyze investment and promote environmental and social development. Funding is limited to electrolysis-based pathways, with up to €30 million available per project, targeting total project costs between €100–500 million. Projects must meet IFC environmental and social standards. In the first round, 98 proposals totaling €150 billion and 56 GW of electrolysis were submitted, with two projects selected: a 70 ktpa renewable ammonia project in Egypt and a 100 ktpa project in Morocco (offtake by OCP). The second call from Jan–Mar 2025 was open to projects in Brazil, Colombia, Egypt, India, Kenya, Morocco, and South Africa.
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Overseas Renewable Energy Development Assistance Programme
…the flagship fund, the government (through the Abu Dhabi Fund for Development) has set aside US$350 million in soft loans for renewable energy projects (generation and transmission) in developing countries that are members of the International Renewable Energy Agency (IRENA).
The UAE has also established a $50 million grant fund for renewable energy projects in 10 Pacific island countries, and has implemented or is implementing bilateral projects worth over 300 million in the Seychelles, Mauritania, Afghanistan, Egypt, and Morocco. The UAE is additionally the largest funder of IRENA, enabling the provision of policy, ficing, and technological counsel and analysis globally. -
What it would take to unlock the next phase of hydrogen growth
Can hydrogen scale up successfully Global hydrogen demand reached 100 Mt in 2024, mainly from refineries, the production of chemicals and the iron and steel sector. Demand grew by almost 2% from 2023, in line with overall energy demand growth. This consumption was almost completely met with hydrogen produced from unabated fossil fuels, using 290 billion cubic metres of natural gas and 90 million tonnes of coal equivalent. However, alternative technologies that can produce low-emissions hydrogen have attracted a lot of interest from governments given their potential to reduce greenhouse gas emissions and diversify energy supply, particularly in countries that have a…
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Southeast Asia Energy Outlook 2026 Energy outlook to 2050 based on today’s policy settings
Southeast Asia becomes one of the main engines of global energy demand growth under today’s policy settings. In the Stated Policies Scenario, the region contributes around 20% of the increase in global energy demand to 2035, supported by sustained economic expansion, rapid electrification and its growing role as a global manufacturing hub. Clean energy expands, but not fast enough to displace fossil fuels. In the STEPS, clean energy meets over 40% of incremental demand growth to 2035, while fossil fuels still meet around 60%. In the Current Policies Scenario, slower policy implementation, financing constraints and power system integration challenges…
