Global Electricity Generation Set to Surge by Mid-Century: OPEC Report

OPEC's World Oil Outlook projects a massive expansion in global electricity generation by 2050. According to the report, total generation will rise from approximately 32,017 TWh in 2025 to around 59,500 TWh, an increase of over 85%. The growth is driven by increasing demand from developing countries, particularly in Asia.

The report highlights that renewables, including hydro and biomass, will account for nearly 58% of the mix by mid-century. Solar and wind energy are expected to deliver the bulk of the incremental supply, with hydro also rising significantly.

However, the report emphasizes the importance of dense, dispatchable sources such as nuclear power, natural gas, and hydroelectricity in maintaining a reliable grid. These sources can provide firm power and help mitigate the challenges associated with integrating high-variable-renewable systems.