IEA: Solar PV Led 2025 Energy Demand Growth; Freeport-McMoRan Reports Q1 2026 Earnings Beat
Solar PV accounted for over 25% of global energy demand growth in 2025, marking the first time it outpaced other sources. Freeport-McMoRan reported Q1 2026 earnings per share of $0.57, exceeding expectations amid high copper prices. The developments highlight rising electrification needs driving copper demand.
Flicker02 / Wikimedia (CC BY-SA 4.0)Solar PV contributed more than 25% of the total demand growth in 2025, followed by natural gas, according to the IEA. This marked the first instance where solar PV provided a larger share of energy demand growth compared to any other energy source. Energy demand rose in 2025 due to population growth, economic expansion, and increased electrification in various sectors, with additional supplies met through renewables and fossil fuels.
Freeport-McMoRan Inc. 4665. 7 million shares.
80 per pound year-to-date as of April 23, 2026, and reached an all-time high exceeding $6 per pound in Q1 2026. Richard Adkerson, chairman of the board at Freeport-McMoRan, noted during the earnings call that the company is now in the 20th year since combining with Phelps Dodge to create the modern Freeport, forming a global leader in copper. Adkerson became CEO of Freeport-McMoRan in 2003.
He stated, 'Our strategy was set after I became CEO in 2003, just as China emerges the dominant source of copper demand. ' Freeport-McMoRan attended the Annual Global Copper Conference in Chile last week before April 23, 2026, which Adkerson first attended in 2004.
At this year's conference, Adkerson observed a strong positive consensus among attendees on copper's future, driven by growing demand for electricity.
He added, 'We are now in a new area of growth about copper, which is broad-based and driven by the growing demand for electricity. ' The company signed a memorandum of understanding with the Government of Indonesia in February 2026 to extend operating rights beyond 2041 for the life of the resource. Freeport-McMoRan has operated in Indonesia for 59 years as of April 23, 2026.
Adkerson has been engaged with the company's Indonesia operations since 1988, and he described the team there as best-in-class in large-scale block cave mining. Kathleen Quirk, president and chief executive officer at Freeport-McMoRan, detailed operations during the call. The company completed remediation at Grasberg to commence a phased ramp-up in production blocks 2 and 3 in Q1 2026.
