Daily Update — March 26, 2025
Power Demand Growth; GenAI Trends; and US’ Role in Investments
Today is Wednesday, March 26, 2025, and here’s your curated selection of essential intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Global power demand growth accelerates to 4.3% in 2024; renewables, gas lead supply gains: IEA
In 2024, global electricity consumption accelerated significantly, growing 4.3% year over year from 2.5%, the International Energy Agency (IEA) reported. This surge resulted in an annual gain of 1,080 TWh, doubling the average annual increase of the past decade and marking the largest jump outside the post-COVID-19 economic rebound. Factors driving this growth include record global temperatures prompting higher cooling demands, increased industrial consumption, the electrification of transportation, and the expansion of datacenters and AI. Notably, renewable energy sources contributed to about 38% of this new demand, with solar leading the charge.
Despite the rise in electricity consumption, the rapid adoption of clean energy technologies has limited the increase in energy-related CO2 emissions to just 0.8% in 2024. Emissions from advanced economies fell to their lowest level in 50 years, and most emissions growth came from emerging and developing economies.
Artificial Intelligence
Top 5 Trends in Generative AI
The technology landscape is rapidly evolving in 2025, spearheaded by the rise of generative AI. This innovative form of AI transcends traditional data analysis by creating new content such as text, images and music to reshape industries and enhance creativity. GenAI is being utilized across sectors, including finance, where it automates report generation and improves risk management, and healthcare, where it aids in drug discovery and personalized medicine. These applications underscore GenAI’s transformative potential.
The advancements in natural language processing play a crucial role in enhancing GenAI's capabilities, leading to more sophisticated human-machine interactions and improved text generation. Furthermore, organizations are leveraging GenAI for data-driven decision-making, extracting valuable insights from extensive datasets to optimize operations in sectors such as energy and manufacturing.
Visible Alpha’s AI Monitor delivers unparalleled monthly insights into the rapidly evolving landscape of AI. Visible Alpha is a part of S&P Global Market Intelligence.
Private Markets
Listen: How shifts in the US government are influencing private, public investment
In this episode of “Energy Evolution,” host Taylor Kuykendall chats with Ernest Moniz, founder and CEO of the EFI Foundation and former US secretary of energy. Kuykendall also talks to Vast Energy CEO Craig Wood and Plug Power President Sanjay Shrestha.
The discussions, held on the sidelines of S&P Global’s CERAWeek energy conference, focus on innovations in energy technology, particularly the role the US Energy Department plays in early investment and how it might change under President Donald Trump. Vast Energy and Plug Power have partnered with the DOE in the past, and both remain optimistic about the future.
In case you missed it
- The share of oil in global energy demand fell below 30% for the first time ever in 2024, with the world returning to slower oil demand growth after recovering from the COVID-19 pandemic.
- Three of the four Chinese megabanks, the biggest lenders in the world by assets, are expected to post declines in net income for 2024 due to shrinking net interest margins.
Upcoming events
- The resilience of credit: market dynamics and outlook | March 27 (Webinar)
- Public Finance Credit Spotlight: US Government Update | March 27 (Webinar)
- Sustainable1 Summit 2025 | April 30 (In-person: London) and June 26 (In-person: Singapore)
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