iea world energy outlook 2021

Published by on May 29, 2021

Electricity demand growth is set to be particularly strong in developing economies. Recently, the International Energy Agency (IEA) published its yearly Global EV Outlook for 2030, edition 2021. The IEA has been criticised for systematically underestimating the role of renewable energy sources in future energy systems such as photovoltaics and their cost reductions.. In the Stated Policies Scenario, global electricity demand grows at 2.1% per year to 2040, twice the rate of primary energy demand.This raises electricity’s share in total final energy consumption from 19% in 2018 to 24% in 2040. The IEA's Global Energy Review 2021 estimates global economic output will rebound by 6% in 2021, pushing global GDP more than 2% higher than 2019 levels. Energy demand worldwide is set to increase by 4.6% in the year, more than offsetting the 4% contraction in 2020 and pushing demand 0.5% above 2019 levels. The World Energy Outlook series is a leading source of strategic insight on the future of energy and energy-related emissions, providing detailed scenarios that map out the consequences of different energy policy and investment choices. Press comments on the publication scared me a bit.

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