Global energy demand spiked in 2024, driven largely by surging electricity use, according to a new report released today by the International Energy Agency (IEA). Electricity consumption jumped by nearly 1,100 terawatt-hours – a hefty 4.3% increase – nearly twice the annual average growth of the past decade.
This dramatic rise was largely fueled by the electrification of transportation, record-breaking global temperatures that ramped up cooling needs, coupled with increased industrial activity, and growing energy demand from data centers and AI applications.
Renewables were the real stars in meeting this rising energy need, according to the IEA’s latest edition of the Global Energy Review. The world installed roughly 700 gigawatts (GW) of new renewable power capacity last year, marking the 22nd consecutive record-setting year. Renewables, together with nuclear power – which saw its fifth-highest growth in three decades – accounted for a massive 80% of the global electricity supply increase. Together, renewables and nuclear reached a milestone, covering 40% of total global electricity generation for the first time.
IEA executive director Fatih Birol highlighted the key takeaway: “What is certain is that electricity use is growing rapidly, pulling overall energy demand along with it to such an extent that it is enough to reverse years of declining energy consumption in advanced economies.” He also emphasized the positive shift: “The strong expansion of solar, wind, nuclear power, and EVs is increasingly loosening the links between economic growth and emissions.”
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Among fossil fuels, natural gas saw the largest increase, up by 115 billion cubic meters (bcm), or 2.7%, driven primarily by rising electricity demand, compared with an average of around 75 bcm annually over the past decade.
EV sales surged by over 25% in 2024, now making up 1 in every 5 cars sold globally, and this had a notable impact on oil demand, which grew modestly, at just 0.8%. Oil notably fell below 30% of total energy demand for the first time ever, 50 years after it peaked at 46%.
Coal, despite increasing by 1%, slowed its growth significantly compared to previous years, with intense heatwaves in China and India accounting for over 90% of this rise.
Meanwhile, emissions data painted an encouraging picture: CO2 emissions in advanced economies fell by 1.1% to to 10.9 billion tonnes in 2024 – a level not seen in 50 years, even as their economies have tripled in size. Record temperatures contributed significantly to the annual 0.8% rise in global CO2 emissions to 37.8 billion tonnes. But the rapid adoption of clean energy technologies since 2019 is now preventing 2.6 billion tonnes of CO2 annually – the equivalent of 7% of global emissions.
Dr. Birol summed it up: “From slowing global oil demand growth and rising deployment of electric cars to the rapidly expanding role of electricity and the increasing decoupling of emissions from economic growth, many of the key trends the IEA has identified ahead of the curve are showing up clearly in the data for 2024.”
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In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss electricity becoming the base currency, Tesla Robotaxi crashes, the new Porsche Cayenne EV, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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Wallbox is ramping up its partnership with distributor Codale Electric Supply to roll out more EV chargers across the Mountain West, a region that’s seeing a rapid escalation of electrification programs and regional highway corridor build-outs.
Codale has become one of Wallbox’s most active distributors over the past two years, helping contractors, developers, and fleet operators procure Wallbox gear while also providing technical support and logistics. Now the two companies are scaling both AC and DC fast charging across Utah, Idaho, Wyoming, and Nevada.
Under the new agreement, Codale will prioritize Wallbox Supernova DC fast chargers and Pulsar Family AC chargers. Codale is already coordinating upgrades of older charging systems and installing new ones across public, commercial, and multifamily sites. Early projects include collaborations with several charge point operators and large commercial portfolios, some of which are rolling out Supernova units in Q4.
The Mountain West has become a hotspot for charging expansion, and Wallbox and Codale say their partnership is designed to keep pace by streamlining installation and improving network reliability.
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Ignasi Alastuey, Wallbox’s chief business officer, said, “This partnership combines Wallbox’s innovation with Codale’s on-the-ground capabilities to rapidly scale charging networks across the Mountain West and set a new benchmark for EV infrastructure growth.”
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EcoFlow launches next Black Friday Sale phase with up to 80% off expanded lineup – starts from $149
EcoFlow has officially switched to its next Black Friday Sale phase of deals with up to 80% discounts, plenty of FREE gifts, bonus savings, and more. Among the new lineup, we spotted EcoFlow’s DELTA Pro Portable Power Station bundled with 2x 220W solar panels and a FREE protective bag at $1,699 shipped, which is not only being exclusively offered direct from the brand, but is also dropping things lower than ever. One thing to note here is that, sadly, the extra savings code isn’t valid on this bundle. It would normally run you $5,199 for everything (including the $99 bag), with the bagless bundle at Amazon keeping lower at a starting rate of $3,999 and only dropping to $1,999 right now. This deal comes in $100 under its previous offer during the brand’s Halloween Sale, giving you a total $2,300 off the going rate ($3,500 off the MSRP) for the best new price that we have tracked anywhere. Be sure to head below to check out the newest phase of full Black Friday deals.
EcoFlow’s DELTA Pro power station is among the most beloved and highly rated backup power solutions from under the brand’s flag, and this solar bundle is quite the setup to grab now that it’s fallen so low in price. Covering away-from-home trips, as well as at-home emergencies, this station starts at a 3,600Wh LiFePO4 capacity that you can expand up to its 25kWh max with further investments. Your devices and appliances can receive up to 3,600W of regular power through the 14 output ports, with it even surging as high as 7,200W for those larger appliances that need more. You’ll be 440W closer to reaching its 1,600W max solar input, thanks to the bundled panels, with additional options for recharging from an AC outlet, as well as your car’s auxiliary port (or by using a compatible alternator charger).
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***Note: EcoFlow is continuing the usage of the promo code 25EFBFAFF at checkout for an extra 5% savings off your cart’s total, with none of the prices below having it factored in. Keep in mind that a number of offers are ineligible to receive the extra savings, but be sure to try it at checkout to ensure you’re getting the best possible savings during EcoFlow’s Black Friday Sale!
EcoFlow’s other direct Black Friday website-only deals/bundles:
RAPID Mag Qi2 10,000mAh 15W magnetic power bank: $55 (Reg. $90)
RAPID Mag Qi2.2 10,000mAh 25W magnetic power bank with built-in cable: $70 (Reg. $100)
DELTA 2 (2,048Wh) with extra battery and 2x 110W panels: $899 (Reg. $2,646)
Save thousands for Black Friday on Samsung smart washer/dryers, refrigerators, ovens, and more starting from $269
As part of Samsung’s ongoing Black Friday Sale event, we’re seeing deals that can save you hundreds to thousands of dollars on the smartest home appliance upgrades, including the Bespoke AI All-in-One Ventless Washer/Dryer Combo at $1,999 shipped, which is actually going for $110 less at Best Buy. There’s also the newer Vented Bespoke AI All-in-One Combo at $1,999 shipped, which you won’t find at Best Buy. The ventless model normally fetches $3,299 without discounts ($3,099 for the vented counterpart) direct from the brand, and starts lower at $2,970 at Best Buy, with 2025 having seen it more often down at $2,199 during sales. While we have seen it go lower in the past, especially 2024, you’re otherwise looking at the best prices we have tracked this year, letting you upgrade to a smarter way to do laundry with up to $1,300 savings, or save more by going with Samsung’s open-box option for $1,599 on the washer/dryer’s sale page down on the right-side options.
Alongside the washer/dryer combos above, we’ve curated a full list of Samsung’s best Black Friday appliance deals on other washers, dryers, refrigerators, ovens, dishwashers, and more that you can browse by checking out our original coverage of this sale here.
Autel’s MaxiCharger AC Lite level 2 EV charger grants up to 50A speeds at new $398 Black Friday low (Save $171)
Lectric XP4 Standard Folding Utility e-bikes with $326 bundle: $999 (Reg. $1,325)
Lectric XP Lite 2.0 Long-Range e-bikes with $449 bundles: $999 (Reg. $1,448)
Heybike Mars 2.0 Folding Fat-Tire e-bike with Black Friday gift: $999 (Reg. $1,499)
Heybike Ranger S Folding Fat-Tire e-bike with Black Friday gift: $999 (Reg. $1,499)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.