Translation from Energy-Addition to Energy-Transition: Not Feasible before 2030?
1. Despite the demand for natural gas remaining flat, the crude demand may continue to be over 100 million barrels per day; and at least 70% of the global energy mix would remain to be fossil fuels, at least until 2030.
2. As on date, fossil fuels constitute nearly 81.5% of primary energy consumption, despite the fact that renewable energy grew @ 6 times the rate of total primary energy.
3. Global coal consumption reached an all-time high of 8.7 billion metric tons in 2024; and nearly, the same trend is expected to continue at least until 2030.
4. Global energy consumption increased by 2% (by 12.3 exajoules) from 2022. [7.8 exajoules contribution from fossil fuels, and, 4.5 exajoules contribution from renewable energy]
5. Global emissions rose by 2.1%, crossing 40 billion metric tons of CO2 equivalents for the first time.
Suresh Kumar Govindarajan 20-Dec-2024