The International Energy Agency's 2023 report on the electricity market reported that renewable energies will be able to cover electricity demand until 2025 along with resurgent nuclear power, displacing fossil fuels. The demand for electricity has been predicted to see a growth of 9% globally, mainly concentrated in Asia, meaning an increase to 29,281TWh. China is expected to make up one third of global electricity consumption and Asia is expected to make up half of the global consumption by 2025. Although the use of electricity will continue to grow in Europe and North America, their share of global demand will decrease in comparison to Asia's.
The report stated that "Renewables and nuclear energy will dominate the growth of global electricity supply over the next three years, together meeting on average more than 90% of the additional demand.” Renewable energy will experience a quicker growth in global electricity demand, displacing fossil fuels. Their share in global energy generation 29 to 35% in the next three years. will grow from The data shows that renewables will become the biggest source of energy in the next three years, replacing coal. This means that CO2 emissions should fall in the energy sector due to the overtake of renewables.
The shift away from fossil fuels means a brighter future. Renewable energy sources, such as solar energy, will help mitigate the negative impacts of climate change. GreenView Energy looks forward to helping implement change through solar panels. Empower the future with GreenView Energy!
Source: https://www.weforum.org/agenda/2023/02/renewables-world-top-electricity-source-data
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