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Jackson, Ryan[jackson.ryan@epa.gov] POLITICO Pro Energy Whiteboard Thur 9/14/2017 3:41:59 PM EIA: Renewable energy growth to 'squeeze out' coal through 2040
By Ben Lefebvre
09/14/2017 11:39 AM EDT
Renewable energy will make up nearly a third of the world's electricity generation output by 2040, putting it on equal footing with coal power, the EIA said in its latest long-term outlook.
Solar, wind and other renewable energy sources will grow at the fastest pace of all fuel sources in the next 22 years until they account for 31 percent of all power generation, the EIA report says.
Meanwhile, coal's use as a generation fuel will drop to 31 percent of total power generation, down from 40 percent in 2015.
In all, renewable energy power generation will nearly double to about 11 trillion kilowatt hours by 2040. Combined with steady growth in nuclear power output, coal will see its importance continue to fall, Ian Mead, assistant administrator of the EIA's Office of Energy Analysis, said during a presentation at the Center for Strategic and International Studies.
"Coal gets squeezed out by those other two shares of generation," Mead said.
A big chunk of the growth will come from China, which is forecast to replace some of its coal power plants with renewable sources, nuclear energy and natural gas.
Overall world energy consumption will climb 28 percent from 2015, reaching 736 quadrillion Btu by 2040, the EIA report said.
The increased use of renewables, even as total energy demand increases, will keep world coalrelated CO2 emissions growth at 0.1 percent annually to 2040, compared with the growth rate of 2.3 percent a year from 1990 to 2015.
WHAT'S NEXT: EIA will detail in coming months how Paris Climate agreement impacts energy output.
To view online'. https://www.politicopro.eom/energy/whiteboard/20.17/09/eia-renewable-energy-to-squeeze-outcoal-demand-by-2040-092916
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