Global demand for energy ‘to peak by 2030’

Global demand for energy ‘to peak by 2030’

by Big Mac

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Global demand for energy per capita will peak before 2030.

That would be due to due to the growth of new energy efficient technologies and the implementation of tougher policies from governments, said the World Energy Council (WEC).

Demand for energy per person from 2030 would be slower, its report added.

The WEC predicts electricity demand to double by 2060, requiring greater investment in infrastructure and smart systems to promote energy efficiency.

The report highlights the rise of wind and solar to meet this big increase in demand. It said the growth of both green sources will continue at “an unprecedent rate”, accounting for 20% to 39% of power generation during the same period.

However, coal and oil will fade out of the energy mix and the WEC sees fossil fuels to provide between 50% to 70% of energy by 2060.

Despite the drop in demand for fossil fuels, the council warns limiting global warming to no more than 2°C will require more efforts than the commitments already pledged.

Its predictions for carbon emissions depend on the strength of efforts to tackle the problem, varying from a reduction of 61% by 2060 to a slight increase of 5%.

Ged Davis, Executive Chair of Scenarios at the World Energy Council said: “It is clear that we are undergoing a grand transition, which will create a fundamentally new world for the energy industry. Historically people have talked about peak oil but now disruptive trends are leading energy experts to consider the implications of peak demand.”