Future of Energy

Sangeeth Varghese ()
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Sangeeth Varghese: World Economic Forum, Young Global Leader

A chapter in Future Intelligence, 2023, pp 53-67 from Springer

Abstract: Abstract The energy sector accounts for three-quarters of greenhouse gas emissions presently, and consequently, efforts to mitigate the consequences of climate change rely massively on improving the condition of our energy consumption, production and transportation. Some of the broad trends that are predicted to realize by 2050 include the global energy demand to continue rising at an average annual growth rate to 2% with most of the increased demand coming from South Asian and African countries which experience significant economic growth during these three decades. Most of the increased demand of energy will be in the form of electricity, and efficiency in electricity production, storage and transportation will become absolutely crucial. Almost 77% of new energy demand is predicted to be met using solar and wind energy production, with some help from biofuels and nuclear energy. The realization of a net-zero future requires the adding capacity for 630 GW of solar power and 390 GW of wind power generation every year, mass electrification of vehicles to increase electric vehicles’ share of global sales from around 5% presently to 60% by 2050, and significant improvement in energy storage and transmission.

Keywords: Greenhouse gas emissions; Carbon capture technologies; Global energy demand; Net-zero future; Evolution of batteries (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fuobcp:978-3-031-36382-5_6

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DOI: 10.1007/978-3-031-36382-5_6

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