RENEWABLE ENERGY
• Demand for electricity is taking off
Electricity use has grown at twice the pace of overall energy demand over the last decade , with two-thirds of the global increase in electricity demand over the last 10 years coming from China .
Electricity demand growth is set to accelerate further in the years ahead . The projections for global electricity demand are 6 %, or 2,200 terawatthours ( TWh ), higher in 2035 than in last year ’ s Outlook .
• Rising data centre electricity use
There are more than 11,000 data centres worldwide and they are often concentrated , meaning local effects on electricity markets can be substantial . However , data centres account for a relatively small share of overall electricity demand growth to 2030 .
• The rise of electric mobility
The slowdown in oil demand growth is creating a significant overhang of supply . The report says : “ China has been the engine of oil market growth in recent decades , but that engine is now switching over to electricity . EVs – many from Chinese manufacturers – are making inroads in a range of markets , although there is uncertainty over how fast their share will grow . EVs currently have a share of around 20 % in new car sales worldwide , and this rises towards 50 % by 2030 .” energydigital . com 89