• 3 minutes Shale Oil Fiasco
  • 7 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 12 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 16 minutes Global Debt Worries. How Will This End?
  • 11 hours DUMB IT DOWN-IMPEACHMENT
  • 20 mins POTUS Trump signs the HK Bill
  • 14 hours Greta named Time Magazine "Person of the Year"
  • 15 mins Tories on course to win majority
  • 3 hours americavchina.com
  • 58 mins WTO is effectively neutered. Trump *already* won the trade war against China and WTO is helpless to intervene
  • 9 hours Everything you think you know about economics is WRONG!
  • 4 hours Winter Storms Hitting Continental US
  • 19 hours Forget The Hype, Aramco Shares May be Valued At Zero Next Year
  • 1 day Can Renewable Natural Gas Compete With Diesel?
  • 19 hours Aramco Raises $25.6B in World's Biggest IPO

IEA: Renewables to Become the Second Largest Energy Source in the World by 2015

The International Energy Agency (IEA) has just launched its 2012 edition of its World Energy Outlook, in which it has stated that energy around the globe is changing “in a dramatic fashion.”

The US’s drive to increase oil and natural gas production is the main topic of the report, but the IEA also wrote that renewable energy will become the second largest source of power generation in the world by 2015, and that by 2035 it could overtake coal to become the primary source.

They noted that these estimates will only be achieved if current subsidies continue. According to the IEA, a total of $4.8 trillion must be provided as subsidies for renewable projects. Whilst this amount may seem to be vast, over half has already been committed to existing projects, or needs to be invested in order to meet the targets already set for 2020.

Relevant Article: Rossi's Investors Talk about the Progress of his E-Cat

 Greenpeace has also released its Greenpeace Energy Revolution 2012 report, in which it believes that the IEA report is too lenient. Sven Teske, a campaigner with Greenpeace International, said that “renewable energy must grow to 65% of electricity production and energy efficiency must increase by 2035 to reduce the impact of climate change. Otherwise, based on this forecast, the world is still headed for a catastrophic temperature increase of 4 to 6 degrees Celsius.”

The IEA reported that by 2035: “Global electricity consumption would grow by 15,000TWh with 7000TWh covered by renewables. 3400TWh of wind and solar powered generation would be added, more than the entire electricity consumption of the European Union.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play