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Global power capacity to double by 2050: EIA

13 Oct '23
1 min read
Pic: Shutterstock/yelantsevv
Pic: Shutterstock/yelantsevv

Insights

  • Global electric power capacity is projected to grow by 50-100 per cent, and electricity generation by 30-76 per cent by 2050.
  • While zero-carbon technologies are growing faster than fossil fuels, the pace varies by region.
  • The demand for energy in economies like China, India, and Africa will motivate the sustained production of crude oil and natural gas.
Global electric-power generating capacity may increase by 50-100 per cent, and electricity generation by 30-76 per cent by 2050, as per the US’ Energy Information Administration (EIA). Zero-carbon technologies account for most of the growth in both global capacity and generation. Electricity generation from renewables and nuclear could provide as much as two-thirds of global electricity generation by 2050.

Energy trade of fossil fuels will continue to evolve as emerging economies demand more energy and the world continues to adapt to current geopolitical events. The Middle East and North America increase natural gas production and exports to meet growing demand, and Western Europe and Asia remain natural gas importers, according to the International Energy Outlook 2023 (IEO2023).

Energy production from zero-carbon technologies grows faster than from fossil fuels, but that dynamic varies from region to region. Energy demand from China, India, Southeast Asia, and Africa will motivate major crude oil and natural gas producers to keep producing.

ALCHEMPro News Desk (NB)
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