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      "text": "electricity demand: 159%",
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      "text": "The build-out in renewable generation will pave the way for rapid electrification of end-use applications. Our modeling suggests final electricity demand will double by 2050 from current figures. Economic growth, particularly in China and India, will fuel much of the increase in global consumption. In some markets, people will access electricity for the first time. In others, rapid proliferation of consumer technologies will push up demand as they become mainstream.",
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      "text": "But electrification of industries may be the biggest driver of change. Today, industry is the biggest energy-consuming sector, accounting for around 37% of final energy demand. Of that, electricity demand is relatively modest – about 22% – most of which is used in mechanical processes. Our model forecasts industrial electricity demand to grow 159% by 2050, as technologies such as electric heat pumps for low- and medium-temperature applications, and electric furnaces for high-temperature uses, are adopted. Capturing the value of surging industrial demand isn't a given for power and utilities companies, which will need to contend with competition from independent power producers and a growing trend toward self-generation. Oil and gas companies will face dual impacts – declining demand from some sectors and increasing pressure to decarbonize the molecules that will remain integral to others.",
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