International Energy Agency: Photovoltaic power leads global energy supply growth last year.

The report released by the International Energy Agency on the 20th showed that last year, global solar PV electricity generation increased by 600 terawatt-hours, accounting for over 25% of the global energy supply increment, marking the first time in recorded history that modern renewable energy has led global energy supply growth. The report also indicated that global energy demand is projected to grow by 1.3% by 2025, slightly lower than the average level of the past decade. Electricity demand is expected to increase by approximately 3%, with energy consumption in sectors like construction, industry, electric vehicles, and data centers continuing to rise. Additionally, global oil demand increased by only 0.7% last year, reflecting the ongoing popularity of electric vehicles which has suppressed the growth in demand for fossil fuels in road transportation. According to data from the International Energy Agency, more than 20 million electric vehicles were sold globally last year, with a growth rate exceeding 20%, accounting for approximately one-fourth of global new car sales. The Director of the International Energy Agency, Fatih Birol, stated that in the current rapidly-changing landscape, countries that prioritize strengthening the resilience and diversification of their energy systems will be better equipped to handle market fluctuations in the coming years, and secure stable and affordable energy supply.