Renewables will defeat coal as the primary source of electricity by the early 2030s, yet coal will remain a major part of the energy mix, the World Energy Outlook 2015 indicates.
The main findings from the International Energy Agency (IEA) make several future forecasts regarding the future of electricity demand all over the globe.Coal use will account for 30% of overall electricity production by 2040, next to renewables as the largest source of electrical energy.
Aussie can expect climate change to make food more scant and costly in the near future, a new finding by the Climate Council noted.
The report stated that China is not going to need as much coal as it has previously.
“China is set to introduce an emissions trading scheme in 2017 covering the power sector and heavy industry, helping to curb the appetite for coal,” the report says.
“China is becoming the wild card of coal markets.”
Yet, the demand for coal will be buoyed by Southeast Asia and India.
“The expansion of coal supply makes India the second-largest coal producer in the world, but also, already by 2020, the world’s largest coal importer, overtaking Japan, the EU and China,” the report says.
The report said the globe’s pressure on energy would increase by a third by 2040, together with an increase in more than 70% for electricity and decline in growth for other sources of energy