Posted on: 26/09/2017
The latest International Energy Outlook report from the United States Energy Information Administration (EIA) predicts that global power consumption will increase by 28% by 2040.
The growth in demand for energy will be led by China, India and other Asian countries outside the Organisation for Economic Cooperation & Development (OECD).
Together, they will account for around 60% of the increase in consumption.
Ian Mead, EIA’s Assistant Administrator for Energy Analysis, said: “Transportation energy use rises by nearly 30%, with almost all of the growth coming from non-OECD countries, as personal incomes rise and energy markets in many of these nations’ rapidly growing economies become further integrated into global supply chains.”
Renewables to grow most quickly
Renewables are expected to be the fastest-growing source of power, rising by 2.3% each year until 2040.
Natural gas will be the fastest-growing fossil fuel with a 1.4% increase each year.
Fossil fuels will still account for 75% of global power production by 2040.
Meanwhile, Keith Anderson, head of ScottishPower Renewables said in an interview that the UK will need to increase its generation of electricity by about a quarter to meet growing demand from the shift to electric cars and electric heating.