Authorization
International Energy Agency (IEA) presented its annual Global Energy Review 2021.
The report explores whether the rebound in activity risks pushing CO2 emissions to a new high and to what degree new policies targeting a sustainable recovery are able to curb a rebound in emissions.
Key highlights of the report:
1. The Covid 19 pandemic continues to impact global energy demand. Third waves of the pandemic are prolonging restrictions on movement and continue to subdue global energy demand. But stimulus packages and vaccine rollouts provide a beacon of hope. Global economic output is expected to rebound by 6% in 2021, pushing the global GDP more than 2% higher than 2019 levels.
2. Global energy demand is set to increase by 4.6% in 2021, more than offsetting the 4% contraction in 2020 and pushing demand 0.5% above 2019 levels. Almost 70% of the projected increase in global energy demand is in emerging markets and developing economies, where demand is set to rise to 3.4% above 2019 levels. Energy use in advanced economies is on course to be 3% below pre-Covid levels.
3. Demand for all fossil fuels is set to grow significantly in 2021. Coal demand is on course to rise 4.5% in 2021, with more than 80% of the growth concentrated in Asia. Natural gas demand is set to grow by 3.2% in 2021, propelled by increasing demand in Asia, the Middle East and the Russian Federation. Despite an expected annual increase of 6.2% in 2021, global oil demand is set to remain around 3% below 2019 levels.
4. Electricity demand is due to increase by 4.5% in 2021, or over 1 000 TWh, cementing electricity's share in final energy demand above 20%.
5. Demand for renewables grew by 3% in 2020 and is set to increase across all key sectors – power, heating, industry and transport – in 2021. Renewable electricity generation in 2021 is set to expand by more than 8% to reach 8 300 TWh, the fastest year-on-year growth since the 1970s.
6. Solar PV and wind are expected to contribute two-thirds of renewables’ growth. The share of renewables in electricity generation is projected to increase to almost 30% in 2021, their highest share since the beginning of the Industrial Revolution and up from less than 27% in 2019. Wind is on track to record the largest increase in renewable generation, growing by 275 TWh, or around 17%, from 2020. It is followed by active further increase in solar PV, hydropower and bioenergy.
7. China alone is likely to account for almost half the global increase in renewable electricity generation. It is followed by the United States, the European Union and India. China is expected to generate over 900 TWh from solar PV and wind in 2021, the European Union around 580 TWh, and the United States 550 TWh. Together, they represent almost three-quarters of global solar PV and wind output.
Full report: https://www.iea.org/reports/global-energy-review-2021
IEA’s presentation within the UWEA’s Annual Event: “Wind power sector of Ukraine: transition from “green” tariff to market conditions”: https://drive.google.com/drive/u/1/folders/1oZ-nzhouI32l3FcDQnRzl68zxc4uX0lo
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