Electricity demand set to accelerate

Global electricity demand is set to accelerate this year according to a new report.

Increased consumption from strong from industry, appliances, cooling, electric vehicles and data centres is expected to see demand grow by 3.6% in 2026 and by a further 3.8% in 2027 – up from 3% growth in 2025.

Global electricity consumption is projected to reach 30,700 terawatt-hours (TWh) in 2027, compared with 28,600 TWh in 2025.

Renewables are on track to become the world’s largest source of electricity generation in 2026, overtaking coal after reaching near parity in 2025. Generation is set to grow by more than 8% in 2026, and it is poised to increase its share of global electricity generation from 33% in 2025 to 37% by 2027.