Global appetite for oil, gas, coal, nuclear, hydro and renewable energy all grew year-on-year for the first time since 2006, the Energy Institute’s analysis finds
Green power joins fossil fuels in supplying record demand for energy
Global demand for every main type of energy hit a record high in 2024, with “green power” continuing to add to rather than displace fossil fuels, reports the Times. The Energy Institute’s annual statistical review of world energy found that, for the first time since 2006, world demand for oil, gas, coal, nuclear, hydro and renewable energy all grew year-on-year, the article continues. Global gas consumption rose by 2.5% as markets rebalanced following a slump the previous year, reports Bloomberg. This recovery was “notable” it adds, as it “cement[s the] role of gas in the global energy system, even as renewables continue to grow”. Wind and solar expanded by 16% in 2024, nine times faster than the overall energy demand, but not enough to fully counterbalance rising consumption needs, the article notes. It quotes the statistical review: “These trends underscore a stark truth: while renewable energy is scaling faster than ever, global demand is rising even faster. Rather than replacing fossil fuels, renewables are adding to the overall energy mix.” The report shows that global CO2 emissions from the energy sector hit a record high for the fourth year in a row, reports Reuters. Carbon emissions increased by 1% in 2024, exceeding the previous record of 40.8 gigatonnes of carbon dioxide equivalent, it adds.
The Times