WSJ: Global Emissions From Electricity Set to Fall Even as Power Demand Climbs, IEA Predicts
January 24, 2024 The International Energy Agency (IEA) forecasts that global electricity demand will grow at an average of 3.4% annually through 2026, spurred by expansion in emerging economies, artificial intelligence, cryptocurrencies, and data centers. Despite this surge in demand, emissions from power generation are expected to enter a structural decline, thanks to a record increase in power generation from renewable and nuclear sources, which will nearly cover the additional demand. By 2026, low-emission energy sources are projected to constitute almost half of the world’s electricity generation, up from just under 40% last year. This shift is facilitated by decreasing costs of solar energy, a resurgence in nuclear power, and a decline in coal-fired generation. The article highlights a significant moment in the global transition towards cleaner energy sources, underscoring the role of renewables and nuclear power in achieving sustainable development and mitigating climate change impacts.