Global Energy Review (IEA report)
Realities
- Global energy demand declined by 3.8% in the first quarter of 2020.
- Global coal demand was hit the hardest, falling by almost 8% compared with the first quarter of 2019.
- Oil demand was also hit strongly, down nearly 5% in the first quarter, mostly by curtailment in mobility and aviation, which account for nearly 60% of global oil demand.
- Renewables were the only source that posted a growth in demand, driven by larger installed capacity and priority dispatch.
- Electricity demand has been depressed by 20% or more during periods of full lockdown in several countries.
- Demand reductions have lifted the share of renewables in the electricity supply, as their output is largely unaffected by demand.
Predictions:
- Oil demand could drop by 9%, Coal demand could decline by 8%, in large part because electricity demand will be nearly 5% lower over the course of the year.
- Renewables demand is expected to increase because of low operating costs and preferential access to many power systems.
- Global CO2 emissions are expected to decline by 8%, or almost 2.6 gigatonnes (Gt), to levels of 10 years ago.
- Low-carbon sources would far outstrip coal-fired generation globally, extending the lead established in 2019.
Details: https://www.iea.org/reports/global-energy-review-2020
CLEAN ENERGY INNOVATION (IEA report – July 2020)
So , why we need innovation?
Because without a major acceleration in clean energy innovation, net-zero emissions targets will not be achievable. Innovation is the key to fostering new technologies and advancing existing ones. Energy efficiency and renewables are fundamental for achieving climate goals, but there are large portions of emissions that will require the use of other technologies.
If governments and companies want to move more quickly towards net-zero emissions, progress on early stage technologies needs to be accelerated.
So, the IEA proposes five key innovation principles
For governments seeking to achieve zero-emission targets while maintaining energy security, these principles primarily address national policy issues in the context of global needs, but are relevant to all policymakers and strategists dealing with energy technologies and transitions:
- Prioritize, track and adjust.
Review the processes for selecting technology portfolios for public support to ensure that they are rigorous, collective, flexible and aligned with local advantages.
- Rise public R&D and market-led private innovation.
Use a range of tools – from public research and development to market incentives – to expand funding according to the different technologies.
- Address all links in the value chain.
Look at the bigger picture to ensure that all components of key value chains are advancing evenly towards the next market application and exploiting spillovers.
- Build enabling infrastructure.
Mobilise private finance to help bridge the “valley of death” by sharing the investment risks of network enhancements and commercial-scale demonstrators.
- Work globally for regional success.
Co-operate to share best practices, experiences and resources to tackle urgent and global technology challenges, including via existing multilateral platforms.
As countries around the world pursue a more secure and sustainable energy future, the IEA will continue to support governments, industry, investors and other stakeholders in advancing energy innovation with the aim of accelerating transitions to cleaner and more resilient energy systems.
Details: https://www.iea.org/reports/clean-energy-innovation
30 INOVATION BRIEFS (IRENA report)
Also, IRENA has published the most comprehensive analysis available on innovation priorities that policymakers must address to successfully decarbonise the electricity systems with renewables and push for innovative renewables solutions.
The analysis also demonstrates that innovations are emerging across four key dimensions of the world’s power systems:
- enabling technologies;
- business model;
- market design;
- system operation.
More deatils: https://cutt.ly/tflCla7
FUTURE OF WIND (IRENA repot)
And what about the future of WIND?
Reducing carbon dioxide (CO2) emissions is at the heart of the world’s accelerating shift from climate-damaging fossil fuels towards clean, renewable forms of energy. Wind energy forms an important part of this key environmental and energy solution.
The International Renewable Energy Agency (IRENA) presents options to speed up the deployment of wind power until 2050.
IRENА said that accelerated wind power deployment, coupled with increased electrification, could deliver one-quarter (or nearly 6.3 GT) of the annual CO₂ emission reductions needed by 2050.
Furthermore, wind power could cover more than one-third of global power needs (35%), becoming the world’s foremost generation source.
To fulfill this aim, the world’s installed wind power capacity must reach 6 000 GW – over 10 times the current level – by 2050. This would include 5 000 GW of onshore wind and 1 000 GW of offshore wind. Asia is poised to become the world’s dominant wind market, accounting for more than 50% of onshore and 60% of offshore wind installations by 2050.
The resulting transformation could bring socio-economic benefits. The global wind industry drives the creation of new jobs and could employ over six million people worldwide by 2050, compared to about one million currently.
