Electricity Market Report July 2021

According to this report from the International Energy Agency, global electricity demand will recover strongly in 2021 and 2022. More than half of global growth in 2022 will occur in China, the world’s largest electricity consumer. India, the third largest consumer, will account for 9% of world growth. It highlights that, despite the growth in renewable electricity generation, it will only be able to meet half of the expected growth in global demand in 2021 and 2022. Fossil fuel-based electricity will cover 45% of additional demand in 2021 and 40% in 2022. Coal-fired electricity generation could set an all-time high in 2022. CO ₂ emissions from the electricity sector will increase in 2021 and 2022.