A recent International Energy Agency (IEA) report has said that in 2040 demand for electricity will rise by 60%, with 85% of growth from developing countries, especially Asia.
The World Energy Outlook 2017 report states: “Electricity demand growth in the New Policies Scenario is dominated by developing economies, to the extent that advanced economies account for only 14% of additional demand to 2040.”
Between 2000 and 2016, global demand for electricity doubled, while the total demand for primary energy increased by almost 60%.
Overall electricity demand to 2040 is expected to rise by 0.7% in advance economies, with a forecasted growth rate of 0.2% and 0.4% in Japan and the European Union respectively.
Meanwhile, electricity demand in developing countries is expected to climb 3% per year until 2040, with industrial motor systems contributing 37% of this growth.
Although India has the fastest growing rate of demand at over 5% per year, China is expected to be the largest contributor to additional energy demand due to the vastness of the country and its economy.
Much of this demand will be met by coal power, with the IEA noting, “Southeast Asia, together with India and other developing economies in Asia, is the primary growth centre of coal demand in the world”
Ministers from ASEAN countries recently acknowledged the importance of new coal technologies in meeting the growing demand for energy, saying “enhanced deployment of cleaner coal technology will reduce ASEAN’s emissions profile, while ensuring affordable energy for economic development and poverty reduction.”