Help the development of the site, sharing the article with friends!
Energy prospects for the renewable sector
The world is facing a long energy transition in favor of renewables, although it is not always a bed of roses. From Bloomberg give us a review of the current situation and its energy prospects and the possible evolution of the energy sector in the next 25 years. New markets in the energy sector and countries with greater energy stability face the challenge of changing an energy model that undoubtedly must be reconsidered for the benefit of all and, of course, for the environment.
Weakness and low coal and gas prices
Although the weakness and low prices of coal and gas have reduced the cost of electricity produced in the new power plants that run on fossil fuels. The small recovery in oil prices in the short term and the influence of rising US production costs on the markets, in the long term will put upward pressure on gas prices.
Coal prices have been falling since their last peak in 2011 and a combination of China's economic slowdown, coupled with developed countries by compliance with emissions regulations, cheap gas and India's plan to develop its resources. internal, leads to the conclusion that prices assigned to coal will remain low in the near future.
Wind and solar, increasingly cheaper
Renewable energies, with special attention to wind and solar, are becoming cheaper. These two technologies become the cheapest ways to produce electricity in many countries during the 2022s and in most of the world in the 2030s. The costs of onshore wind power will fall by 41% and the costs of Photovoltaic solar energy will decline by 60% by 2040.
Solar energy will emerge as the lowest-cost generation technology in most countries by 2030. Small-scale solar will account for just over a third of the new installed capacity. Homes and businesses add photovoltaic solar energy with their rooftop solar panels to offset energy bills in most countries around the world.
China leads the way in renewables
Most installed photovoltaic solar energy will accelerate in China, with less repercussion appears. Europe, the US and Africa by 2025 and India booming by 2030.
The Asia-Pacific region to experience colossal growth in new power generation over the next 25 years (they will represent 50% of all new investments worldwide), tripling installed capacity and doubling electricity generation. However, aided by abundant national supplies and maritime transport, coal will continue to be the largest source of electricity for the region by 2040, affecting the mitigation of climate change.
India resurfaces with renewables
The India Faces Rapid Increase in Electricity Demand due to economic and demographic expansion and growing electrification. Coal will remain the dominant fuel until 2040, but also the solar sector will start to play a bigger role, accounting for 29% of new energy capacity.
United States betting on renewables
In the USA., while gas will be almost a third of capacity by 2040, renewables will see the bulk of investment in the next 25 years, reaching 50% in the total computation for the year 2040, from less than a fifth today.
The electric car increases energy demand
The Electric car boom will increase global electricity demand by 8% according to the BNEF forecast.
Electric cars will represent 35% of new light vehicle sales by 2040, 90% more than the 2015 figures. A technological revolution is expected in the automotive sector with particular emphasis on the development of batteries that will be much more efficient than today and with lower costs.
Divergent trajectories in coal
TO despite a worldwide boom in renewable, fossil fuels will maintain a 44% share of generation in 2040 - down from two-thirds in 2015.
While the coal will plummet in Europe (A major decarbonisation by 2040, with the claims that renewables reach 70% in generation by 2040 with a key point, self-awareness will skyrocket, with batteries for small-scale photovoltaic systems in homes will shake the energy stability of Europe ), in the USA (Important tax incentives will favor renewables although in the medium term a strong fight is expected in the energy markets against gas and coal) and in 2025 forChina.
The reduction of emissions in the EU, US and China are offset by a sharp increase in the India and Southeast Asia. By 2040, emissions from the global energy sector are still 5% higher than today.
We can consult more information from Blommberg… HERE.
If you liked this article, share it!
