Annual growth in global electricity demand.
Image: Ember
Renewable power generation provided a record 32% of global electricity last year, a report by energy think tank Ember said on Tuesday, as overall electricity demand grew 4% driven by heatwaves and data centres.
Energy security fears, exacerbated by a trade war prompted by US President Donald Trump's sweeping tariffs, could further boost demand for renewable power this year, said Ember electricity and data analyst Euan Graham.
The tariffs have sent markets from energy and equities plummeting and stoked concerns about a global recession.
Graham said though it was too early to tell whether the tariff fallout would impact electricity demand this year, renewable power could benefit.
"Countries are thinking about their security and energy security more than ever before and I think that means homegrown renewable power like wind and solar becomes more and more attractive," he said.
The growth of renewable power generation - including wind, hydro and solar - in the global electricity mix in 2024 beat the previous year's 30% record, Ember’s Global Electricity Review showed.
"Despite geopolitical and economic headwinds, the renewables industry delivered an additional 858 TWh of generation to the system last year - more than the combined annual electricity consumption of the UK and France," Bruce Douglas, the CEO of the Global Renewables Alliance, said in a statement accompanying the report.
The rise in electricity consumption for artificial intelligence, data centres, electric vehicles and heat pumps contributed 0.7% of the global demand growth last year, the report showed.
Heatwaves in 2024 increased electricity demand for cooling, which added a further 0.7% or 208 terrawatt hours (TWh) to the global total, it said.
Gas power plants contributed 22% of global electricity production, little changed from 2023. Coal remained the largest source of generation, providing 34% of the global share, down from 36%.
Nuclear power contributed 9%, down slightly from 9.1% in 2023.
REUTERS