We are firmly in the Age of Electricity💪

Electricity demand has been revised up. Previously, it was 2.7%/year to 2030 (the same as for 2010-2023), now it's 3.3%/year. And demand growth is coming from EVERYWHERE - yes data centres + a/c, but also EV's+heat pumps, and industry is actually the biggest slice...

They've mostly likely upped their forecasts due to the record growth seen in 2024...

In particular, air conditioning soared in 2024. And the IEA are showing a key uncertainty in demand growth is future air conditioning demand: how many more units will be bought, how they will be used when heat waves hit, and - critically - how efficient the units will be.

They are keen to stress DATA CENTRES - even in the "fast growth" scenario - are only a small part of this trend.. (altho still big in absolute terms) [you might want to bookmark this graphic for when someone says otherwise!]

PS, Sorry that this thread is focused sooo much on electricity (electricity transition is my day job!). Also to say, I am very honored for the first time to be a peer review on this report 💪🙏

Solar and batteries continue to steal the show! **Solar +24%** Revised from 4700GW to 5800GW for 2030 **Battery +54%** Revised from 552GW to 853GW for 2030 I had to butcher this slide from last year to show the context of **another** upgrade..

HOWEVER: 2030 coal demand is revised up 6%😲 That's because the major rise in electricity demand was bigger than the rise in renewables. Last year, global coal generation was shown to fall 20% from 2022-2030. Now it's forecast to fall by just 12%🫥

CO2 emissions are now shown to fall only 3% from 2022 to 2030. Last year they showed a 5% fall. Net Zero pathway shows they need to fall by 33%🤯 In the 12 months since the world promised to "transition away from fossil fuels" it doesn't look like we are any closer🤷‍♂️

The world is entering a new era of energy abundance - of oil, LNG, solar and batteries. And that is creating a big climate risk - and an opportunity. Great for falling consumer prices👍 Climate outlook uncertain🤷‍♂️

So whilst all of coal, gas and oil are still expected to peak this decade, this is not yet translating into large falls on current policies..

The world is building renewables. But it continues to use energy wastefully. I love this quote below in the exec summ👇💯 And it's left me desperately thinking.. Where is the policy action on efficiency?!

@CleanPowerDave Thank you for the summary, very much appreciated.

@CleanPowerDave Well that’s my evening planned 😂 Always enjoy @fbirol present for IEA

@CleanPowerDave super useful, thanks Dave!

@CleanPowerDave Love seeing clean energy front and center in this report can't wait to dive into CleanPowerDave's takeaways

@CleanPowerDave What does "almost 200 trade measures affecting clean energy technologies – most of them restrictive – have been introduced around the world" mean in the report? Are governments really restricting clean energy and why would they want to do that?

@CleanPowerDave Are Toyota still on the list of consultants?

@CleanPowerDave Ummm the #iea “bible” has under estimated renewables for 20 years. Anybody quoting or using it is either lazy or stupid.