NewEnergyNews: Global Energy Transition Moves Ahead

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    Friday, November 16, 2018

    Global Energy Transition Moves Ahead

    World Energy Outlook 2018 examines future patterns of global energy system at a time of increasing uncertainties

    13 November 2018 (International Energy Agency)

    “Major transformations are underway for the global energy sector, from growing electrification to the expansion of renewables, upheavals in oil production and globalization of natural gas markets. Across all regions and fuels, policy choices made by governments will determine the shape of the energy system of the future…[As] geopolitical factors exert] new and complex influences on energy markets, underscoring the critical importance of energy security, …[the World Energy Outlook 2018 scenario analysis] details global energy trends and what possible impact they will have on supply and demand, carbon emissions, air pollution, and energy access…[under current and planned policies] that can meet long-term climate goals under the Paris Agreement, reduce air pollution, and ensure universal energy access…

    …[Oil markets] are entering a period of renewed uncertainty and volatility, including a possible supply gap in the early 2020s. Demand for natural gas is on the rise, erasing talk of a glut as China emerges as a giant consumer. Solar PV is charging ahead, but other low-carbon technologies and especially efficiency policies still require a big push…In all cases, governments will have a critical influence…[Under current and planned policies,] energy demand is set to grow by more than 25% to 2040, requiring more than $2 trillion a year of investment in new energy supply…In power markets, renewables have become the technology of choice, making up almost two-thirds of global capacity additions to 2040, thanks to falling costs and supportive government policies…[Renewables generation is expected to be] 40% by 2040, from 25% today…” click here for more

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