- If technology continue, land use will grow by about 50 percent between 2020 and 2050, according to the International Energy Outlook 2021 published by the Energy Information Administration (EIA) on October 6.
- The agency has indicated that strong economic growth, especially with developing economies in Asia, will boost global expansion of energy use despite reducing epidemics and long-term improvements in energy efficiency.
- According to the EIA reference case, which makes future power trends based on current laws and regulations, the use of renewable energy is growing exponentially in power sources by 2050. Liquid fuels remain the most source of energy, driven mainly by the economic and transportation sectors.
- Stephen Nalley, EIA acting directors puts forward that carbon dioxide emission is beginning to increase because there is lack of policy changes and technological breakouts even when the growth of renewable energy is growing up.
- The agency has indicated that power generation will double in the development of non-OECD countries by 2050.
- Global primary energy consumption increased by 11.0% between 2008 and 2013.
- In 2013, global energy consumption rose 2.3% year on year despite stagnant economic growth.
- Crude oil is the most used type of energy accounting for 32.9% of global energy consumption in 2013.
- Coal consumption rose by 2.8% in 2013 making it the faster growing fossil fuels.
- Renewable energy is the fastest growing of all energy sources and is set to continue rising in the long term.
- While natural gas, coal, and batteries will remain critical components of the power grid, supporting solar and wind resources, most of the new generation of electricity will come from renewable energy sources in line with falling technological costs and permitting laws and regulations.
- Nally also says that battery storage expansion around the world will go up due to reliability increase for power grid and global struggle for producing more electricity from renewable resources.
- Driven by a growing population and a rapidly growing economy, the EIA estimates that liquid fuel consumption will increase significantly in non-OECD Asia, where total energy consumption will almost double from 2020 to 2050.
- Consumption will surpass production in these countries, leading to an increase in imports of crude oil or finished petroleum products, the EIA said and added that the product would be imported from the Middle East.
- “Asia’s fastest growing economies could merge into a major importer of natural gas and crude oil by 2050, due to the huge increase in energy consumption,” said Nalley.
- The refined sector, which includes refining, mining, manufacturing, farming and construction, accounts for the largest share of energy consumption of any end-to- end energy sector-another than half of the energy expenditure used in the exhibition period. Energy consumption in the global refined sector increases by another than 30 between 2018 and 2050 as commodity consumption increases. By 2050, global refined power consumption reached 315 quadrillion British hot air (Btu) units.
- Transport energy consumption will increase by about 40 percent between 2018 and 2050. This increase is largely driven by non-OECD countries, where transport energy consumption is boosting by fair 80 between 2018 and 2050. much faster than in nth OECD countries.
- Energy consumption in the real estate sector, including home and marketable real estate, increased by 65 between 2018 and 2050, from 91 quadrillion to 139 quadrillion Btu. Rising inpourings, urbanization, and multiplying access to electricity are leading to increased demand for energy.
- Growth in final consumption results in electricity generation increased by 79 between 2018 and 2050. Electricity consumption is growing in the cover sector as rising population and living morality in non-OECD countries increase demand for stuff and privy points. Electricity consumption is multiplying in the transport sector as electric vehicles connect to those vehicles and electricity is used to increase trains.
- With the brisk growth of electricity generation, renewable energy- including solar, wind, and electric power-is the fastest growing energy source between 2018 and 2050, surpassing petrol and other liquids. Global renewable energy consumption increased by3.1 per annum between 2018 and 2050, compared to0.6 regular growth in petrol and other liquids, coal growth by0.4, and1.1 regular growth in natural gas consumption.
- Global natural gas consumption is raising by else than 40 between 2018 and 2050, with total consumption reaching about 200 quadrillion in Btu by 2050. In addition to the natural gas used in power generation, the use of natural gas is raising in the man- made sector. The thing of chemical and synthetic substance, as well as the parentage of painting and natural gas, poses multiple of the growing man- made principles.
- Demand in OECD countries remains stable during flier, but non-OECD demand is hyping by about 45.
Curated by- Siddhi Kale
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