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Coal-fired electricity generation could reach all-time high in 2022 - IEA
(Kitco News) - While renewables have been taking a growing share of total power supply, the International Energy Agency is forecasting that renewables won't be able to keep pace with demand.
The International Energy Agency published its semi-annual Electricity Market Report yesterday.
"Renewables are expanding quickly but not enough to satisfy a strong rebound in global electricity demand this year, resulting in a sharp rise in the use of coal power that risks pushing carbon dioxide emissions from the electricity sector to record levels next year," writes the authors of the study.
After falling by about 1% in 2020 due to the impacts of the Covid-19 pandemic, the IEA said that global electricity demand is set to grow by close to 5% in 2021 and 4% in 2022 – driven by the global economic recovery.
"The majority of these increases will take place in the Asia Pacific region. More than half of global growth in 2022 will occur in the People’s Republic of China), the world’s largest electricity consumer. India, the third-largest consumer, will account for 9% of global growth."
Renewables are growing strongly but won’t keep up.
"Based on current policy settings and economic trends, electricity generation from renewables – including hydropower, wind and solar PV – is on track to grow strongly around the world over the next two years – by 8% in 2021 and by more than 6% in 2022. But even with this strong growth, renewables will only be able to meet around half the projected increase in global electricity demand over those two years," writes the IEA.
The IEA forecasts coal-fired electricity generation will step into the breach. Coal is set to increase by almost 5% this year and by a further 3% in 2022, potentially reaching an all-time high.
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