The demand will increase by 60%.
The international energy Agency (IEA) forecasts growth in electricity demand by 2040 60%.
In the New Policies Scenario (WEO baseline scenario, which considers the current energy policies of the countries and their announced plans – ed.) demand for electricity will reach thousands of 26.4 TWh.h in 2025 and more than 35.5 thousand TVT.h in 2040, which is 60% higher than the current level, the report says the IEA.
The Agency notes that by 2025, electricity, oil and natural gas will provide about 85% of the growth of final energy demand in almost equal shares.
However, after 2025, the growth in electricity demand will outstrip the increase in demand for other fuels by a large margin, driven by emerging economies, says the report of the Agency.
According to the IEA, up to 2040, electricity will account for about 40% of the growth of final energy consumption, which is 10 percentage points higher than the share of natural gas, which ranks second in growth of fuel consumption by end-use.
The IEA predicts the growth of electricity generation by 60% until 2040. Meanwhile, natural gas, wind and solar energy will provide 70% of the additional generation in almost equal shares. The IEA forecasts the share of hydro power at 15% in 2040, wind energy at 12%, nuclear and solar energy at 9%. Other renewable energy sources such as bioenergy, geothermal energy and so on will be about 5% of world generation.
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