Global electricity demand is growing faster than renewables, driving strong increase in generation from fossil fuels. As a result, carbon emissions from the electricity sector – which fell in both 2019 and 2020 – are forecast to increase by 3.5% in 2021 and by 2.5% in 2022, which would take them to an all-time high.

It is an autonomous Intergovernmental Organisation established in 1974 in Paris, France. IEA mainly focuses on its energy policies which include economic development, energy security and environmental protection. These policies are also known as the 3 E’s of IEA.

Global electricity generation will increase between now and 2050: In 2010, global electricity production was 21.5 billion MWh globally. In Jazz, this is expected to increase by 150% to 53.6 billion MWh by 2050. In Symphony, the increase is about 123% to 47.9 billion MWh by 2050.

The global renewable energy market is expected to continue its upward growth over the next years, reaching 1.1 trillion U.S. dollars by 2027….Renewable energy market size worldwide in 2020, with a forecast for 2027 (in billion U.S. dollars)

In the Stated Policies Scenario, global electricity demand grows at 2.1% per year to 2040, twice the rate of primary energy demand. This raises electricity’s share in total final energy consumption from 19% in 2018 to 24% in 2040. Electricity demand growth is set to be particularly strong in developing economies.

WASHINGTON (Reuters) – Global energy demand is expected to soar 44 percent over the next two decades with most of the demand coming from developing countries such as China and Russia, the U.S. government’s top energy forecasting agency said on Wednesday.

The International Energy Agency (IEA)
The International Energy Agency (IEA) has released its latest report on ‘World Energy Investment 2021’.

Falling costs and governmental support are driving the growth of renewable energy. The ability to store renewable power for use when needed makes it a viable alternative to fossil fuels. Investing in renewable energy stocks not only helps diversify your portfolio, it can also generate handsome dividend income.

Electricity is at the heart of modern economies and it is providing a rising share of energy services. Demand for electricity is set to increase further as a result of rising household incomes, with the electrification of transport and heat, and growing demand for digital connected devices and air conditioning.

Global energy consumption has grown rapidly over the past century, driven by an expanding population and increasing prosperity. Demand has risen for virtually all sources—coal, oil, natural gas, nuclear energy, and renewables.

EROI Formulas

1. EROI = Energy Output / Energy Input.
2. EROI = Energy Gathered / Energy Invested.
3. EROI = Energy Delivered / Energy Used to Deliver that Energy.