Are renewables likely to be the only growing energy sector in 2020?
Tuesday, May 19, 2020
By William Boger
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YES
After reviewing data from the first 100 days of the year, the International Energy Agency updated forecasts for energy markets for 2020. With renewable energy generation increasing by nearly 5%, renewable sources are likely to account for almost 30% of global electricity supply. Total global use of renewable energy will rise by about 1% in 2020.
With the coronavirus pandemic, the agency expects global electricity demand to fall by 5%, with 10% reductions in some regions. "Low-carbon sources would far outstrip coal-fired generation globally, extending the lead established in 2019," the IEA stated.
The agency expects global demand for coal to fall by 8%, for oil by 5% and for natural gas by 2%.
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