energy outlook

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IEA: Offshore wind to be a $1 trillion industry by 2040

It is expected that over the next few years, offshore wind power will expand impressively, helping decarbonise energy systems and reduce air pollution, according to a new report by the International Energy Agency. Dr Fatih Birol, IEA’s Executive Director, launched the Offshore Wind Outlook 2019 on 25 October.

Smart data drives energy transition: Opportunities & challenges

support by smart data is said to totally transform power systems in the near future.  Besides, by 2050, the world’s primary energy mix is expected to be split equally between fossil and non-fossil sources. However, which are the challenges and opportunities that data and IT systems are bringing to the energy era?

Timeline of energy transition developments until 2050

According to DNV GL’s Energy Transition Outlook, until 2050, energy from renewables will meet 50% of our energy needs, while alternative sources of energy will grow the world’s electricity transmission and distribution systems. In the following infographic you can see a timeline of the expected developments up until 2050.

Watch: Greater energy efficiency to reduce energy demand from 2030

In this video, Remi Eriksen, Group President and CEO of DNV GL, and Sverre Alvik, ETO Programme Director, explain the findings of the Energy Transition Outlook. They say that until 2050, energy from renewables will meet 50% of our energy needs. However, currently we are on course to miss the 2⁰C goal by Paris Agreement.

US natural gas prices to reach a record high in 2018

Dry natural gas production in the US is forecast to average 81.0 billion cubic feet per day Bcf/d in 2018, up by 7.4 Bcf/d from 2017 and establishing a new record high, according to EIA’s short-term energy outlook, which foresees natural gas production will continue to rise in 2019 to an average of 84.7 Bcf/d. 

Energy transition fast, but not enough to meet Paris Agreement goals

DNV GL today published its latest Energy Transition Outlook. According to the new Outlook, natural gas projects will receive a significant investment, while the global energy demand will peak in 2035. The increased electrification of energy demand, along with wind and solar energy, will grow the world’s electricity transmission and distribution systems. In addition, DNV GL also published the Maritime Forecast to 2050, which examines the challenges of decarbonizing the shipping industry. 

EIA: India’s energy use will depend on its economic growth

India’s economic growth is possible to impact future international energy markets because of the country’s large population and potential for development. India is expected to be one of the fastest-growing economies in the world over the next 30 years, but how that growth will take place remains unknown.

Africa’s energy consumption to increase but won’t surpass China, India

In its International Energy Outlook for 2018, EIA forecasts that Africa’s manufacturing sector and industrial energy consumption will increase because of possible regional competitive advantages. However, Africa’s energy consumption per capita lags behind the other two regions that the report examines: China and India. 

China to be the largest energy-intensive goods producer in 2040

EIA released three reports in its International Energy Outlook 2018 discussing the energy implications of potential changes in China, India and Africa. Regarding China, its economy remains by far the world’s largest producer of energy-intensive goods in 2040. Faster economic growth in China also leads to higher energy consumption.

India’s energy consumption not reaching that of China, US through 2040

In its recently-published International Energy Outlook for 2018, EIA forecasts that India’s energy consumption is projected to grow faster than the rest of the world through 2040, along with China’s and Africa’s. However, Indian consumption levels do not reach those in China or the US in the next two decades.

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