Bioenergy set to grow fast in next five years
About 40% of the global energy consumption growth in the next five years will be met by renewables and it will account for almost one-third of the global electricity generation by 2023, the market forecast said. India, after China and the US, is the third largest growth market for solar PV capacity addition.
“Modern bioenergy’s “share in the world’s total renewables consumption is about 50% today, in other words as much as hydro, wind, solar and all other renewables combined,” said Fatih Birol, the IEA’s executive director. “We expect modern bioenergy will continue to lead the field, and has huge prospects for further growth. But right policies and rigorous sustainability regulations will be essential to meet its full potential,” he said.
Untapped potential of bioenergy in cement, sugar and ethanol industries is significant. Bioenergy growth in the industry, transport and electricity sectors combined could be as considerable as that of other renewables in the electricity sector. A significant proportion of this potential relies on wastes and residues that offer low lifecycle greenhouse gas emissions and mitigate concerns over land-use change. In addition, using these resources can improve waste management and air quality.
China leads global growth in renewable energy. It will become the largest consumer of renewable energy, surpassing the European Union by 2023. Of the world’s largest energy consumers, Brazil will have the highest share of renewables by far – almost 45% of total final energy consumption in 2023, driven by significant contribution of bioenergy and hydropower, the report said.
Meanwhile, solar PV dominates renewable electricity capacity expansion. Renewable capacity global additions of 178 gigawatts (GW) in 2017 broke another record, accounting for more than two-thirds of global net electricity capacity growth for the first time. Solar PV capacity expanded the most (97 GW), over half of which was in China.
/Source: Energy World/
Oct. 13, 2018