India and China to lead 2021 growth in global power demand

As per International Energy Agency’s electricity market report, India and China will lead the growth in global demand for electricity in 2021.

The report, however, expects global electricity demand in 2020 to fall by around 2 per cent due to impact of Covid-19. In addition, China will be the only major economy to see higher electricity demand in 2020. However, projected demand growth of around 2 per cent, which represents about 28 per cent of global electricity consumption, will still be significantly below its average since 2015 of 6.5 per cent. The report has projected a 7 per cent growth in renewable electricity generation in 2020. Coal-based and nuclear power generation are estimated to fall by around 5 per cent and 4 per cent, respectively in 2020.

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