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Tuesday, May. 19, 2020

Are renewables likely to be the only growing energy sector in 2020?

William Boger, Gigafact Foundry
yes

After reviewing data from the first 100 days of the year, the International Energy Agency updated forecasts for energy markets for 2020. With renewable energy generation increasing by nearly 5%, renewable sources are likely to account for almost 30% of global electricity supply. Total global use of renewable energy will rise by about 1% in 2020.

With the coronavirus pandemic, the agency expects global electricity demand to fall by 5%, with 10% reductions in some regions. "Low-carbon sources would far outstrip coal-fired generation globally, extending the lead established in 2019," the IEA stated.

The agency expects global demand for coal to fall by 8%, for oil by 5% and for natural gas by 2%.

Sources

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