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IEA’s Electricity 2024 Report

IEA’s Electricity 2024 Report mind map
Recent News
Clean energy transition
Accelerating
Next three years crucial
Low-emission technologies
Covering additional demand
When
Published in 2024
Why
Importance of electricity
Increasing due to technologies
Electric vehicles
Heat pumps
Largest source of CO2 emissions
Power generation
Transition to net zero
Expansion of renewables
Solar
Wind power
What
Overview
Deep, comprehensive analysis
Policies, market developments
Forecast
Demand
Supply
CO2 emissions
Through 2026
Global Electricity Demand
Projected growth
Faster rate next three years
85% increase from outside advanced economies
Notably China, India, Southeast Asia
Electricity Generation
Record-setting from low-emissions sources
Renewables
Solar, wind, hydro
Nuclear power
Expected to reduce fossil fuels' role
Fossil Fuels
Share expected to fall
Below 60% first time in IEA records
Nuclear Power
Forecast to reach all-time high
Output increase in France
New reactors in various markets
CO2 Emissions
Expected decrease
2.4% in 2024
Smaller declines following years
Where
Countries involved
Member countries
31 countries
Association countries
11 countries
India's Role
Fastest growth in electricity demand
Coal domination
Projected decrease to 74% by 2023
Renewable generation
21% in 2023
21 GW added
Nuclear expansion
Aiming to triple by 2032
Who
International Energy Agency (IEA)
Autonomous inter-governmental organization
Within OECD framework
Founded in 1974
Focus
Security of oil supplies
Members
31 member countries
11 association countries
India
Joined as associate member in 2017
Reports by IEA
World Energy Outlook
World Energy Balances
Energy Technology Perspectives
World Energy Statistics
Net Zero by 2050
How
By advancing clean energy technologies
Solar
Wind
Hydro
Nuclear power
Policy and market developments
Increasing global electricity demand
Significance
Match increase in demand
With renewable and nuclear power
Promising trends
Despite needing more progress
Structural decline in power sector emissions
Challenges
Ensuring secure, affordable access to electricity
While reducing global CO2 emissions
Economic slowdowns
Impacting electricity market trends
Way Forward
Continued focus on renewables
Especially solar
Support for nuclear power comeback
Decoupling electricity demand from emissions

The IEA’s Electricity 2024 Report presents an insightful analysis and forecast of the global electricity sector up to 2026, emphasizing the increasing significance of electricity in modern life, especially with technologies like electric vehicles and heat pumps. It underscores a pivotal shift towards clean energy, with low-emission technologies like solar, wind, hydro, and nuclear power set to meet all additional global electricity demand in the near future. This shift is marked by a projected decrease in fossil fuels’ role in power generation, dropping below 60% for the first time in IEA records, and an increase in renewables and nuclear power. The report, highlighting trends in global electricity demand, particularly notes the significant contributions from non-advanced economies like China, India, and Southeast Asia. Additionally, it discusses the challenges of ensuring secure and affordable electricity access while reducing CO2 emissions, outlining a path forward focused on renewable energy, especially solar, and the revival of nuclear power.

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