The Covid-19 pandemic continues to impact global energy demand and CO2 emissions. Let’s take a look at some interesting data from the International Energy Agency (IEA) “Global Energy Review 2021”
The energy demand is growing
According to IEA estimates, global energy demand is set to increase by 4.6% in 2021, pushing demand 0.5% above 2019 levels and offsetting the 4% contraction in 2020.
Almost 70% of the projected increase in global energy demand will affect emerging markets and developing economies, where demand is set to rise to 3.4% above 2019 levels.
Energy consumption in advanced economies is expected to be 3% below pre-Covid levels.
Co2 emissions: the second largest increase in history
Co2 emissions in 2021 are set to reach almost 5%, an almost unprecedented percentage: only in 2010 the global emissions curve was steeper. Driving this emission boom will be the growth in demand for coal: it is on course to rise 4.5% in 2021, with more than 80% of the growth concentrated in Asia. China alone is expected to account for over 50% of global growth. The growth in demand for coal will also affect the United States and the European Union.
Along with coal, gas will also grow significantly: the expected increase is 3.2% driven by demand in Asia, the Middle East and Russia. On balance, global demand will be 1% higher than in 2019. Oil is also recovering strongly, but is expected to remain below its 2019 peak.
Source: IEA
Good news from renewable energy
The production of electricity from renewable sources is expected to rise by more than 8% in 2021 to reach 8,300 TWh.
30% of electricity generation worldwide in 2021 is set to be provided by renewables, their largest share of the energy mix since the beginning of the Industrial Revolution.
Solar PV and wind power will account for two thirds of the expected growth of renewables, which will be substantial especially in the electricity generation (+ 30% in 2021). The greatest contribution to the increase in electricity from renewables is due to China (that is likely to account for almost half the global increase) followed by the United States and the European Union.
Download the “Global Energy Review 2021” report
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