A recent report by the Department of Energy (DOE) states that, in the future, the world’s use of every kind of energy will escalate, including renewable energy. The report also indicates that China and India’s growing economies will be large factors in increased consumption.
By 2040, global use of energy — mainly for electricity and transportation needs — will skyrocket by 56%, half of that energy being used by India and China. At the same time, global economic growth will boost demand for renewable energies, such as wind and solar power; however, fossil fuels — oil, coal and natural gas — will reign supreme, and remain the world’s preferred energy sources. By the end of 2040, these fossil fuels will constitute 80% of world energy use.
The DOE’s report also projects that worldwide use of renewable energy will accelerate, becoming the fastest flourishing source of global electricity production, spurred by a large growth in hydroelectric dams and wind farms.
New technologies for fracking have allowed consumption of natural gas to surge, surpassing the use of oil and coal, while also allowing for more energy efficiency and energy independence in the US. Yet, burning more fossil fuels will release more carbon dioxide – the most common greenhouse gas that has been connected to climate change – emissions into the atmosphere. By 2040, emissions are predicted to increase by 46%.
Development of new energy sources with cost, environmental and abundance efficiency will be the greatest innovation that world is anxiously waiting for, and needs.
Developed and Written by Dr. Subodh Das and Tara Mahadevan
August 1, 2013
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