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According to a recent report by the International Energy Agency (IEA), renewable energies are experiencing rapid growth. This will allow low-emission electricity generation to outpace the robust growth in electricity demand.

The IEA indicates that global electricity demand will increase at a faster rate over the next three years. This is as the transition to more sustainable energy patterns accelerates. All additional demand is expected to be met by technologies that produce low-emission electricity.

It concludes that global electricity demand growth will be 3.4% between 2024 and 2026. About 85% of the increase will come from advanced economies, especially China, India and Southeast Asian countries.

Electricity generation from renewable sources is expected to reduce the role of fossil fuels. In addition, low-emission sources will account for almost half of global electricity generation by 2026.

Renewables are expected to overtake coal and account for more than one-third of total electricity generation by early 2025. Nuclear power generation is also projected to reach an all-time high globally by 2025. This is driven by increased production in France, Japan and the commissioning of new reactors in China, India and Korea.

When the share of fossil fuels in global generation falls below 60%, it will be the first time it has fallen below this threshold in the IEA’s records, which go back more than five decades.

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