New Energy Will Lead By 2050 But Old Energy Will Survive

EIA projects nearly 50% increase in world energy use by 2050, led by growth in renewables

Courtney Sourmehi, October 7, 2021 (U.S. Energy Information Administration)

“…[A]bsent significant changes in policy or technology, global energy consumption will increase nearly 50% over the next 30 years. Although petroleum and other liquid fuels will remain the world’s largest energy source in 2050, renewable energy sources, which include solar and wind, will grow to nearly the same level…Falling technology costs and government policies that provide incentives for renewables will lead to the growth of renewable electricity generation to meet growing electricity demand…

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[R]enewables will be the fastest-growing energy source for both OECD and non-OECD countries…[C]oal and nuclear use will decrease in OECD countries, although the decrease will be more than offset by increased coal and nuclear use in non-OECD countries…

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…[G]lobal use of petroleum and other liquids will return to pre-pandemic (2019) levels by 2023, driven entirely by growth in non-OECD energy consumption…[But OECD liquid fuel use will not] return to pre-pandemic levels at any point in the next 30 years…Delivered electricity consumption will grow the most in the residential end-use sector…Globally, we project increased consumption of natural gas through 2050…The industrial sector will use the largest share of both natural gas and coal among all end-use sectors…” click here for more

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