EIA: global energy consumption will increase by 28% by 2040
Sep 15, 2017

EIA: global energy consumption will increase by 28% by 2040

The U.S. energy information administration EIA days before the release of the international energy outlook this year (International Energy Outlook) said in a report, to 2040, global energy consumption will grow by 28%, India and China will run global energy consumption growth. In addition, in addition to coal, the demand for other energy sources are showing an upward trend.

The report said that in 2015-2040 years, the Asian countries of economic cooperation and development (OECD), excluding China and India, are expected to account for more than 60% of the incremental energy consumption.

By 2040, fossil fuels will remain dominant, accounting for more than 3/4 of global energy consumption, but renewable energy and nuclear energy will surpass fossil fuels in growth.

EIA believes that the largest increase in renewable energy, is expected in 2015 to 2040 consumption between the annual growth rate of 2.3%, followed by nuclear power, is expected to grow by 1.5%.

Gas will be the fastest growing fossil fuel, with an expected annual growth rate of 1.4%, largely due to an increase in gas production.

As part of the total energy structure, oil based liquid fuels will continue to dominate in 2040, but their share will fall from 33% in 2015 to 31%.

At present, coal is being phased out and continues to be replaced by natural gas, renewable energy and nuclear energy. Coal's share of the world's total energy consumption is expected to fall from 27% in 2015 to 22% in 2040. At this stage, China remains the world's largest coal consumer. It is estimated that by 2040, China's coal consumption will decrease by 0.6% annually.

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