Projected electricity generation worldwide 1995-2050

Electricity generation worldwide is forecast to almost triple in the next three decades when compared to 2023. With a growth rate of approximately 20,000 terawatt-hours per decade between 2030 and 2050, this figure will reach 79,000 terawatt-hours by 2050. 

Electrification and decarbonization

The growth in worldwide power generation will largely be driven by decarbonization efforts, including the electrification of the transportation and building sectors. For instance, the global sales of electric vehicles have grown five-fold between 2018 and 2022.
In the building sector, efforts to decarbonize heating systems also rely on clean electricity. The share of renewable energy used to power heat pumps worldwide is increasing, although it was below 30 percent in 2022.

Global electricity trends

Since 1990, global power generation has increased every year except in 2009, following the global financial crisis, and in 2020, in the midst of the COVID-19 pandemic. Increasing power demand is the result of various factors, including economic development and increasing access to electricity throughout the world.