Despite growing renewable energy, global coal consumption reached a record high in 2024, driven by strong demand in China and India. While demand is expected to stabilize by 2027, weather patterns and electricity growth will play significant roles in the short and medium term.
Global coal demand has surged to another record high this year, the International Energy Agency (IEA) said on Wednesday, expecting the world’s coal consumption to level off through 2027. The year 2024 saw another all-time high consumption of coal globally, beating the previous record set last year, the IEA said in its Coal 2024 report with analysis and forecast to 2027. Last year, coal demand grew by 2.6% to hit an all-time high, the IEA said in a July overview of the coal markets.
Back then, the agency expected coal demand for 2024 to remain broadly flat compared to 2023. This year, coal demand is on track to increase by 1% from 2023 to 8.77 billion tons, a record high, the IEA said today. While coal demand continues to decline in the EU and the U.S. – although at slower paces than in 2023, China and India are set to see in 2024 another year of record-high coal consumption. China is on track for a 1% rise to 4.9 billion tons, and India’s coal demand is poised to increase by more than 5% to 1.3 billion tons—a level that only China has reached previously. Over the next three years, global coal consumption will remain close to the 2024 record-high levels, said the agency, which advocates strongly for an acceleration of the energy transition. The IEA projects, and hopes, that coal demand will plateau through 2027 even as global electricity consumption spikes, thanks to rising renewable energy capacity additions. A plateau in global coal demand will largely depend on China, the agency noted. “Weather factors – particularly in China, the world’s largest coal consumer – will have a major impact on short-term trends for coal demand. The speed at which electricity demand grows will also be very important over the medium term,” said IEA Director of Energy Markets and Security Keisuke Sadamori. Although the share of coal in China’s electricity generation has been declining in recent years with the renewables boom, Chinese coal power generation and demand remains stron
COAL DEMAND RECORD HIGH RENEWABLE ENERGY CHINA INDIA
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Coal Demand and Exports Set for New Record Highs in 2024Thermal coal consumption and exports are expected to hit record highs in 2024, driven by surging demand in emerging economies, particularly China and India.
Read more »
Global Coal Demand Hits Record High Amidst Asian GrowthThe International Energy Agency (IEA) reports a surge in global coal demand, driven primarily by Asia's energy needs. China and India are key contributors to this trend, with China's demand reaching a record high and India surpassing EU and US consumption.
Read more »
100 most in-demand restaurants of 2024 namedThe list is compiled from diner reviews, bookings and insights
Read more »
Taylor Swift Named Spotify's 2024 Global Top Artist for Second Year, Beyoncé Misses Top ListsTaylor Swift has been named Spotify's 2024 Global Top Artist for the second consecutive year, with Beyoncé's absence from the top ten lists highlighting a notable drop in streaming popularity.
Read more »
Taylor Swift Named Spotify's Global Top Artist for 2024, Beyonce Misses Streaming Top ListsTaylor Swift was declared Spotify’s Global Top Artist for 2024, marking her second consecutive year in this position. Despite this, Beyonce failed to make any of the top ten lists, a stark contrast to her recent Billboard accolade as the Greatest Pop Star of the 21st Century.
Read more »
2024 according to Cloudflare: Global traffic up, Google still king, US churning out botsSame old same old really
Read more »