Global Energy Consumption In 2024 Surpasses All Previous Decade

by News Editor

March 25, 2025

Global energy consumption soared in 2024, surpassing the entire previous decade, driven by a surge in electricity demand and declining oil use, as reported by the International Energy Agency (IEA).

Key Insights

Energy demand increased by 2.2% in 2024, nearly double the average rise between 2013 and 2023.
Oil demand fell below 30% for the first time in 50 years, marking a significant shift.
Electricity usage climbed over 4%, equating to more than Japan’s annual consumption—an all-time high outside recession recovery years.
The electricity boom is attributed to increased usage of cooling systems due to record temperatures, growing industrial needs, data centers, AI, and transport electrification.

Impactful Trends

IEA Chief Fatih Birol noted the rapid growth in electricity use has reversed the trend of declining energy consumption in developed economies.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Emerging Stories

One in five cars sold globally is electric, with a projected sales increase of over 25% in 2024.

Renewables and nuclear powered 80% of the additional electricity use in 2024, now making up 40% of global electricity production for the first time.

Gas consumption also rose significantly—by 115 billion cubic meters, a 2.7% increase over the previous decade’s average.

Economic Contributions

Emerging and developing economies accounted for 80% of the global energy consumption rise, despite a slowdown in China’s growth.

In developed nations, consumption grew by 1% following years of decline, highlighting revitalized demand.

The Future Forbes Realty Global Properties

Solar Photovoltaics Drive Global Energy Demand: A Renewable Milestone

by THEFUTURE.TEAM

April 22, 2026

Solar Photovoltaics Lead The Charge

Solar photovoltaic (PV) systems accounted for 27% of global energy demand growth in 2025, marking the first time a single renewable technology has led the increase. This compares with overall demand growth of 1.3% in 2025, 2% in 2024, and an average of 1.4% over the previous decade, highlighting the accelerating role of solar in the global energy mix.

Surpassing Traditional Energy Sources

Solar PV outpaced natural gas, which contributed 17% of the increase in energy demand. According to the International Energy Agency (IEA), new solar installations added capacity equivalent to 600 terawatt-hours (TWh), bringing total solar generation to 2,700 TWh, or roughly 8% of global electricity production. This shift reflects growing reliance on renewable energy for power generation across major markets.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Traditional Fuels Under Pressure

Demand for fossil fuels showed slower growth. Natural gas consumption rose by 1% in the first half of the year, compared to 2.8% in 2024. Oil demand increased by 0.7%, with additional daily consumption reaching 650,000 barrels, down from 750,000 in 2024 and well below pre-pandemic increases of around 1.4 million barrels per day. Part of this slowdown is linked to the substitution of cleaner energy sources. Electric vehicle sales rose by 20% in 2025, accounting for roughly one-quarter of the global market.

Mixed Trends In Coal Consumption And Emissions

Coal demand increased by 0.4%, reflecting diverging regional trends. China and India reduced coal use as renewable capacity expanded, while the United States increased coal consumption in response to higher electricity demand. Coal contributed around 9% to demand growth, similar to wind energy.

Global CO2 emissions from the power sector rose by approximately 0.4%. Emissions declined in China due to increased use of renewables and nuclear energy, while U.S. emissions increased alongside higher coal usage.

Record-Breaking European Renewable Production

Europe recorded strong growth in renewable generation in the first quarter of 2026. Solar output increased by 15%, marking the highest quarterly rise on record, while wind generation grew by 22% year over year. Total renewable production reached 384.9 TWh, supported by solar, wind, and hydroelectric output. These gains helped offset volatility in gas markets linked to geopolitical tensions, including developments involving Iran.

Looking Ahead

Renewables are taking a larger share of global energy demand growth, with solar PV at the center of this shift. Combined contributions from renewables, biofuels, and nuclear energy now account for roughly 60% of new demand, indicating continued structural change in the global energy system.

Breaking news