According to an energy think tank, U.S. President Donald Trump and the comprehensive tariffs imposed by the resulting uncertainty could eventually increase demand for renewable energy.
Trump's tariffs have been sent out of markets from energy and stocks decline And attracted people's attention Global recession.
According to UK-based energy think tank Ember, these tariffs, including a potential trade war, could impact electricity demand this year and prompt energy security to be considered around the world.
Also on AF: Asian market is hot because China refuses US tariffs to “ranspeckle”
It says that while it is too early to say how this will work, it can still increase the need for renewable capabilities.
“Nationals are considering their safety and energy security more than ever, and I think that means native renewable energy like wind and solar are becoming increasingly attractive,” Ember Electer and data analyst Euan Graham told Reuters.
Renewable energy generation accounts for 32% of global electricity, according to a report released Tuesday. Meanwhile, overall electricity demand driven by heat waves and data centers grew by 4%.
Ember's Global Electricity Review shows that growth in renewable energy (including wind, hydraulic and solar) in the global electricity portfolio in 2024 beats the previous year's record.
“Despite geopolitical and economic headwinds, the renewable energy industry provided the system with 858 TWH generation last year, rather than annual annual electricity consumption in the UK and France,” Bruce Douglas, CEO of the Global Renewable Energy Alliance, said in a statement accompanying the report.
Hot wave fuel demand
The report shows that electricity consumption in artificial intelligence, data centers, electric vehicles and heat pumps increased by 0.7% of global demand growth last year.
It said Heatwaves in 2024 also increased electricity demand for cooling, up 0.7% or 208 Terawatt hours (TWH) in the global total.
Meanwhile, as the world continues to be hit by unprecedented temperatures, heat waves may continue to affect global electricity demand this year.
Last month was the second temperature parade on the planet – until March 2024, the EU's Copernicus Climate Change Service (C3S) said in its monthly announcement.
The global average temperature in March was 1.6 degrees Celsius higher than the pre-industrial era.
The main driver of climate change is greenhouse gas emissions that burn fossil fuels. According to scientific consensus among climate scientists.
The development of renewable energy is crucial to the world's emissions and efforts to effectively combat climate change, scientists say.
- Reuters, other editors and inputs with Vishakha Saxena
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