https://www.cnbc.com/2020/10/13/coronavirus-response-can-reshape-the-future-of-energy-iea-says.html https://www.cnbc.com/2020/10/13/coronavirus-response-can-reshape-the-future-of-energy-iea-says.html
Going forward, IEA believes that renewables will take “starring roles,†and solar will take “center stage,†driven by supportive government policies and declining costs.
“I see solar becoming the new king of the world’s electricity markets,†said Fatih Birol, IEA’s executive director. “Based on today’s policy settings, it is on track to set new records for deployment every year after 2022.â€
On the other hand, IEA forecasts that coal demand will not return to pre-coronavirus levels, and that it will account for less than 20% of energy consumption by 2040, for the first time since the Industrial Revolution. Oil will remain “vulnerable to the major economic uncertainties resulting from the pandemic,†with demand starting to decline after 2030, the agency said.
https://www.iea.org/news/world-energy-outlook-2020-shows-how-the-response-to-the-covid-crisis-can-reshape-the-future-of-energy https://www.iea.org/news/world-energy-outlook-2020-shows-how-the-response-to-the-covid-crisis-can-reshape-the-future-of-energy
World Energy Outlook from International Energy Agency
Renewables take starring roles in all our scenarios, with solar centre stage. Supportive policies and maturing technologies are enabling very cheap access to capital in leading markets. Solar PV is now consistently cheaper than new coal- or gas-fired power plants in most countries, and solar projects now offer some of the lowest cost electricity ever seen. In the Stated Policies Scenario, renewables meet 80% of global electricity demand growth over the next decade. Hydropower remains the largest renewable source, but solar is the main source of growth, followed by onshore and offshore wind.
“I see solar becoming the new king of the world’s electricity markets. Based on today’s policy settings, it is on track to set new records for deployment every year after 2022,†said Dr Fatih Birol, the IEA Executive Director. “If governments and investors step up their clean energy efforts in line with our Sustainable Development Scenario, the growth of both solar and wind would be even more spectacular – and hugely encouraging for overcoming the world’s climate challenge.â€
Going forward, IEA believes that renewables will take “starring roles,†and solar will take “center stage,†driven by supportive government policies and declining costs.
“I see solar becoming the new king of the world’s electricity markets,†said Fatih Birol, IEA’s executive director. “Based on today’s policy settings, it is on track to set new records for deployment every year after 2022.â€
On the other hand, IEA forecasts that coal demand will not return to pre-coronavirus levels, and that it will account for less than 20% of energy consumption by 2040, for the first time since the Industrial Revolution. Oil will remain “vulnerable to the major economic uncertainties resulting from the pandemic,†with demand starting to decline after 2030, the agency said.
https://www.iea.org/news/world-energy-outlook-2020-shows-how-the-response-to-the-covid-crisis-can-reshape-the-future-of-energy https://www.iea.org/news/world-energy-outlook-2020-shows-how-the-response-to-the-covid-crisis-can-reshape-the-future-of-energy
World Energy Outlook from International Energy Agency
Renewables take starring roles in all our scenarios, with solar centre stage. Supportive policies and maturing technologies are enabling very cheap access to capital in leading markets. Solar PV is now consistently cheaper than new coal- or gas-fired power plants in most countries, and solar projects now offer some of the lowest cost electricity ever seen. In the Stated Policies Scenario, renewables meet 80% of global electricity demand growth over the next decade. Hydropower remains the largest renewable source, but solar is the main source of growth, followed by onshore and offshore wind.
“I see solar becoming the new king of the world’s electricity markets. Based on today’s policy settings, it is on track to set new records for deployment every year after 2022,†said Dr Fatih Birol, the IEA Executive Director. “If governments and investors step up their clean energy efforts in line with our Sustainable Development Scenario, the growth of both solar and wind would be even more spectacular – and hugely encouraging for overcoming the world’s climate challenge.â€
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