The Future of Energy: A Shift Towards Sustainability
But there will be a premium to pay for more sustainable energy, with cost of materials and infrastructure changes
Rise in Power Consumption
THE increasing draw on power grids, from car usage to data centre operations, will spotlight the renewable energy and liquified natural gas (LNG) sectors this year.
Global Power Consumption Growth
Globally, power consumption growth will hit a peak of 3.1 per cent on average in 2025 – the highest since 2021, according to research consultancy BMI.
Regional Variations
Emerging markets in South-east Asia such as Indonesia will experience a growth rate of 4.8 per cent in 2024.
Conclusion
As the world’s power consumption continues to rise, it is essential to prioritize sustainable energy sources to mitigate the impact on the environment. While there may be a premium to pay for more sustainable energy, the long-term benefits to the planet and future generations make it a worthwhile investment.
FAQs
Q: What is driving the increase in power consumption?
A: The increasing draw on power grids from car usage, data centre operations, and other sources is driving the growth in power consumption.
Q: What are the implications of this growth on the energy sector?
A: The growth in power consumption will spotlight the renewable energy and liquified natural gas (LNG) sectors, as well as drive investment in sustainable energy sources.
Q: What is the expected growth rate in power consumption globally?
A: According to research consultancy BMI, the global power consumption growth is expected to hit a peak of 3.1 per cent on average in 2025 – the highest since 2021.
Q: Which regions are expected to experience the highest growth in power consumption?
A: Emerging markets in South-east Asia, such as Indonesia, are expected to experience a growth rate of 4.8 per cent in 2024.
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