Global electricity demand is set to rise by 4% annually through 2027, driven by industrial production, air conditioning, electrification, and data centers. According to the International Energy Agency’s latest report, this growth is equivalent to adding more than Japan’s annual electricity consumption each year, with 85% of the increase coming from emerging and developing economies.
IEA’s Director of Energy Markets and Security, Keisuke Sadamori calls it the “Age of Electricity,” urging governments to ensure a secure and sustainable power supply. The report predicts that growth in renewables and nuclear energy will be enough to meet rising demand over the next three years.