What’s in the News?

• The International Energy Agency (IEA) recently released the Global Energy Review report, which provides a comprehensive analysis of worldwide energy trends.
• It examines data across all fuels and technologies, regions, and major countries, offering insights into energy supply, consumption, and related carbon dioxide (CO₂) emissions.

About IEA

• • The International Energy Agency is an autonomous intergovernmental organization established by the member countries of the Organisation for Economic Co-operation and Development (OECD) in 1974. 
    • OECD is a group of 38 member countries that discuss and develop economic and social policy. OECD members are typically democratic countries that support free-market economies. India is not a member of OECD.
  • The IEA works to ensure reliable, affordable and clean energy for its member countries and beyond. 
  • Its main areas of focus are energy security, economic development, environmental awareness and engagement worldwide. 
  • The IEA is made up of 31 member countries. 
  • Before becoming a member country of the IEA, a candidate country must meet several criteria.
    • It must have crude oil or product reserves equivalent to 90 days of the previous year’s net imports. 
    • It must have in place a demand restraint program to reduce national oil consumption by up to 10 per cent. 
    • Legislation and measures to ensure that all oil companies under its jurisdiction report information upon request. 

• India became an Associate Member in 2017.

• IEA is headquartered in Paris, France.

Findings of the Report 

• According to the report, global electricity demand increased by 4.3 per cent in 2024, a step change from the 2.5 per cent growth seen in 2023.
• Rising global electricity use was driven by factors such as increasing cooling demand resulting from extreme temperatures, growing consumption by industry, the electrification of transport, and the expansion of the data centre sector.
  • The continued uptake of electric vehicles raised electricity consumption in the transport sector by over 8 per cent in 2024.
• Global coal demand rose by 1 per cent. China remained the largest coal consumer globally, accounting for a record 58% of global coal use.
• However, nearly all of the rise in electricity demand was met by low-emissions sources, led by the record-breaking expansion of solar PV capacity, with further growth in other renewables and nuclear power.
  • In 2024, 80% of the growth in global electricity generation was provided by renewable sources and nuclear power.