International Energy Agency: Global electricity demand will maintain rapid growth in the next two years.

The International Energy Agency (IEA) released a report on the 23rd, stating that despite recent Middle East conflicts disrupting the global natural gas market and driving up power generation costs in many areas, global electricity demand is expected to maintain rapid growth this year and next due to continued increases in demand from industries, household appliances, refrigeration, electric vehicles, and data centers.

The report projects that global electricity demand will grow by 3.6% in 2026 and 3.8% in 2027, both higher than the 3% growth rate in 2025. By 2027, global electricity consumption is projected to reach 30,700 terawatt-hours (TWh).

The report predicts that renewable energy will surpass coal to become the world's largest source of electricity in 2026. Solar photovoltaic (PV) power generation is expected to increase by approximately 600 TWh in 2026, potentially surpassing wind power to become the world's second-largest source of renewable energy after hydropower.

The report acknowledges that weather change remains a significant uncertainty affecting the global electricity demand outlook. If the El Niño phenomenon is stronger than expected in 2026, increased demand for cooling could further drive up global electricity consumption.