Rapid Fire
Global Energy Review 2024
- 26 Mar 2025
- 2 min read
The International Energy Agency (IEA) released the Global Energy Review (GRE) 2024, analyzing trends in energy demand, supply, technology, and CO₂ emissions.
- Key Highlights of GRE 2024:
- Global Energy Demand Growth: Increased by 2.2%, with emerging economies contributing 80% of the rise.
- Rise of Renewables & Natural Gas: Renewables accounted for 38% of growth, adding a record 700 GW. China (340 GW solar, 80 GW wind) and India (30 GW solar) were key contributors.
- Natural gas demand rose 2.7%, led by China’s LNG adoption.
- Coal Demand Trends: Globally rose 1%, with China (60% electricity from coal) and India (75%) as top consumers.
- Coal's global electricity share fell to 35%, the lowest since 1974.
- Crude Oil Demand Slows: Growth was 0.8%, primarily due to the petrochemical sector, while EVs, LNG trucks, and high-speed rail reduced transport-related oil consumption.
- International Energy Agency (IEA):
- Established: 1974 by OECD nations (due to 1973-74 oil crisis).
- Headquarters: Paris, France.
- Mandate: Ensures energy security, economic development and global engagement through analysis, data, and policy recommendations.
- Members: 31 member countries, 13 association countries (including India), and 4 accession countries. Only OECD members can become IEA members.
- Major Reports: World Energy Outlook reports, India Energy Outlook Report, World Energy Investment Report.
| Read More: IEA Report Electricity 2024 |
