Global Electricity Demand to Increase 57% by 2050

This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

    • China and India will be the centers of growth
    • Electric Vehicles to account for 9% of demand by 2050

Global electricity demand will reach around 38,700 terawatt-hours by 2050 from 25,000 terawatt-hours in 2017, driving new investment in power generating capacity, according to our New Energy Outlook 2018. In the emerging countries of Africa, Middle East and Southeast Asia, increasing population, GDP growth and enhanced access to electricity lead to a doubling of demand. However, in the developed countries of the Organization for Economic Cooperation and Development or OECD, demand growth is expected to be anemic, or even begin to contract, reflecting a combination of improved energy efficiency, modest rates of economic expansion, and an ongoing retreat from energy-intensive industries.

BNEF clients can see the full New Energy Outlook 2018 on the Terminal or on web.

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