DAEGU ― Despite continued growth of renewable energy sources, including solar and wind power, fossil fuels like oil and gas are expected to remain the dominant global energy sources even in the future, according to a report by the World Energy Council.
The WEC released the report Monday, the first day of the five-day World Energy Congress that kicked off in this Korea’s third-largest city on Sunday.
There has been some speculation in the world’s energy industry that the demand for fossil fuels will decrease as a number of governments are seeking to raise the share renewables in their energy mix.
|Participants including global energy ministers, experts and CEOs attend the first session for the 22nd World Energy Congress at EXCO, Daegu, on Monday. (Organizing committee)|
The World Energy Scenarios Report, provided by the Switzerland-based Paul Scherrer Institute based on a three-year study of about 30 countries, found that fossil fuels will fill 77 percent in the global energy mix under a market-driven policy scenario, while they will account for 59 percent under a government-led policy scenario.
Under the two policy scenarios, the share of renewable energy sources in the global mix will record its biggest-ever growth. Under the government-led scenario, the share is forecast to reach 30 percent by 2050, while the ratio is expanding to 20 percent under a market-driven policy scenario.
Among renewable energy sources, the report predicted that the world would see the highest growth in use of solar energy. By 2050, the use of solar for electricity generation is set to increase by up to 225-fold from 2010 levels, the report said.
Every scenario in supply and demand or by energy sources, however, depends on how fast or how much energy demand will grow. Also, the report said there was no single global solution for energy issues.
“While there will be opportunities in the future for a range of technology solutions, the ultimate issue is that demand continues to grow at an unsustainable rate,” Karl Rose, a senior director of policies and scenarios at the World Energy Council, said in a press briefing on Monday.
The report highlighted rising energy demand in Asia.
“Asia will account for the largest percentage of total primary energy consumption by 2050 at 48 percent under the market-driven scenario and at 45 percent under the other scenario,” the report said. This compares to around 30 percent in both scenarios for Europe and North America.
When it comes to energy access, one of biggest challenges in the global energy scene, the report said there would be a significant improvement in this area by 2050, although the pace would still be insufficient.
“One of the most significant findings in the report is the strong regional variation of priorities and solutions in the energy system. Too often, we look at the world as one entity and seek global solutions, but the reality is very different,” it said.
The report stressed that it was important for countries to develop a clear and robust energy policy framework to invest in technology development to cope with complexities they face in their energy mix.
By Seo Jee-yeon (email@example.com