Flagship report
World Energy Investment 2021
Electricity
Modern economies depend on the reliable and affordable delivery of electricity. At the same time, the need to address climate change is driving a dramatic transformation of power systems globally.
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Electricity is the fastest-growing source of final energy demand, and over the next 25 years its growth is set to outpace energy consumption as a whole. The power sector now attracts more investment than oil and gas combined – necessary investments as the generation mix changes and ageing infrastructure is upgraded.
The global electricity supply is also being transformed by the rise of variable renewable sources of generation such as wind and solar PV. While this puts electricity at the forefront of clean-energy transitions, providing access to the nearly 1 billion currently deprived, helping cut air pollution and meet climate goals, these changes will require a new approach to how power systems are designed and how they operate. Otherwise, rising electrification could result in less secure energy systems, underscoring the urgent need for policy action in this critical sector.
The global electricity supply is also being transformed by the rise of variable renewable sources of generation such as wind and solar PV. While this puts electricity at the forefront of clean-energy transitions, providing access to the nearly 1 billion currently deprived, helping cut air pollution and meet climate goals, these changes will require a new approach to how power systems are designed and how they operate. Otherwise, rising electrification could result in less secure energy systems, underscoring the urgent need for policy action in this critical sector.
Last updated Nov 24, 2020
Key findings
Annual average growth rates of electricity demand in selected regions, 2001-2020
OpenGlobal electricity demand is expected to fall by 5% in 2020
Global electricity demand is expected to fall by 5% in 2020, eight times the reduction in 2009 due to the global financial crisis. A faster recovery would reduce electricity demand by 2%, as all areas of economic activity resume. But wider spread of Covid 19 in Africa, Latin America and other areas of the developing world, and a second wave in autumn in advanced economies, could lead to an even greater decline.
Renewable electricity net capacity additions by technology, main and accelerated cases, 2013-2022
OpenRenewable power markets are more resilient than previously thought
Renewable power additions are defying Covid-19 and setting new records growing by nearly 4% globally in 2020, reaching almost 200 GW driven by higher additions of wind and hydropower. Additions are expected to increase again in 2021 by 10% reaching almost 220 GW driven by solar PV. The expiration of incentives and consequent policy uncertainties in key markets, combined with upcoming financing challenges and limited stimulus targeting renewable electricity, will lead to a small decline in capacity additions in 2022 relative to 2021.
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Analysis
Country report
Thailand Power System Flexibility Study
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Net Zero by 2050
A Roadmap for the Global Energy Sector
Technology report
Global EV Outlook 2021
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Lithuania 2021
Energy Policy Review
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The Potential Role of Carbon Pricing in Thailand's Power Sector
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Global Energy Review 2021
Assessing the effects of economic recoveries on global energy demand and CO2 emissions in 2021
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Electricity Security 2021
Challenges and opportunities ahead for electricity security
Events
04 Jun 2021 09:00—10:30
Launch of Thailand power system flexibility study
Jun 2021
Electricity Market Report - January-June 2021
12 May 2021 10:00—11:30
High-Level Discussion on The Role of Critical Minerals in Clean Energy Transitions
05 May 2021 11:00—12:00
The Role of Critical Minerals in Clean Energy Transitions – World Energy Outlook Special Report
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The Users TCP’s mission is to provide evidence from socio-technical research on the design, social acceptance and usability of clean energy technologies to inform policy making for clean, efficient and secure energy transitions. Decarbonisation, decentralisation and digitalisation are embedding energy technologies in the heart of our communities. Communities’ response to these changes and use of energy technologies will determine the success of our energy systems. Poorly designed energy policies, and technologies that do not satisfy users’ needs, lead to ‘performance gaps’ that are both energy and economically inefficient. User-centred energy systems are therefore critical for delivering socially and politically acceptable energy transitions.
The mission of the HTS TCP is twofold: to evaluate the status of and assess the prospects for the electric power sector's use of HTS within the developed and developing world; and to disseminate the findings to decision makers in government, the private sector, and the research and development community. The HTS TCP provides evidence from socio-technical research on energy use to policy makers to support clean energy transitions. Through its work the HTS TCP provides evidence on the design, social acceptance and usability of clean energy technologies in the area of high temperature superconductivity.
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