The International Energy Agency (IEA) is mostly pretty gloomy about energy trends in its new global energy review - although with some exceptions. It says that global energy demand grew by 2.2% in 2024 - faster than the average rate over the past decade. ‘The increase was led by the power sector as electricity demand surged by 4.3%, well above the 3.2% growth in global GDP, driven by record temperatures, electrification & digitalisation’. It says global electricity consumption ‘rose by nearly 1,100 TWh in 2024, more than twice the annual average increase over the past led by China, with more than half of the global increase in electricity demand’. Globally ‘electricity use in buildings accounted for nearly 60% of overall growth in 2024’, while ‘the installed capacity of data centres globally increased by an estimated 20%, or around 15 GW, mostly in the United States and China’. And it says that ‘energy intensity improvements continued to slow in 2024. After improving at ...
Net Zero Carbon by 2050 is the UK target, but the Tory and Reform party views on it now seem similar. It’s ‘impossible’ says Tory Leader Badenoch: ‘Net-zero cannot be achieved without a significant drop in our living standards, or worse, by bankrupting us.’ And whole thing must be scrapped, says Reform’s Rice - to save money. But Labour says its ‘imperative’. And, like the REA , it says it is vital - for green growth. So, what will happen now? Carbon Brief suggest getting to net zero will cut costs and improve security, but not everyone is convinced that it makes sense. For example, Badenoch said that, even if the UK were to reach net-zero, global emissions would not be guaranteed to reach net-zero overall. That’s obvious enough, the UK is only one country, but as Carbon Brief noted, 142 countries, representing more than 80% of the world’s population, are now covered by net-zero targets. However, let’s assume for the moment that the UK decides to back ou...