Renewable energy sources is foreseen to supply more than 40 percent of the incremental primary energy demand to 2040, more than any other fuel, according to International Energy Agency's (IEA) World Energy Outlook 2017 on Wednesday.
The IEA's report shows that electricity generation from renewables will overtake that from coal in the 2020s and will supply 40 percent of electricity by 2040.
Growth is not confined to the power sector; the direct use of renewables for heat and transport will double to 2040, the IEA noted, adding that China will remain the world leader in renewable energy use, followed by the U.S., the EU and India.
China will also increase its share of global renewable energy supply from 15 percent in 2015 to 20 percent in 2040 with 600 million tonnes of oil equivalent (Mtoe). In the U.S., where consumers use renewables to the same extent in their heat and electricity consumption, a change will be seen after 2020, as the use of renewables-based electricity will grow faster than the use of renewables for heat and transport combined.
However, under the existing and planned policies, the annual growth rate of renewables in the U.S. is set to slow from 3.5 percent per year to 2.5 percent per year after 2025, the agency projected.
In the EU, electricity generation from renewables is forecast to grow at a slightly slower rate than in the U.S., as will heat generated from renewables.
The report argues that in Southeast Asia rising energy demand will be the main driver of renewable energy expansion, and as costs decline, the growth rate of renewables will be almost twice that of total final energy consumption.
However, Southeast Asia’s share of global renewables supply will stay flat, at around 7 percent, the IEA noted.
Brazil is among the countries with the highest share of direct and indirect renewable use in final energy demand, the share growing to around 45 percent in 2040, from the current 39 percent.
By Ebru Sengul
Anadolu Agency
energy@aa.com.tr