Page 5 - AsiaElec Week 41

AsiaElec COMMENTARY AsiaElec

Infrastructure China sees the largest absolute increase in
Power infrastructure is set to evolve over the next demand, accounting for over 40% of the global
decade as new technology comes online and growth to 2030. Electricity demand growth glob-
more distributed sources of electricity become ally outpaces all other fuels. Electricity meets
available. 21% of global final energy consumption by 2030.
The report warned that without enough Renewables will be at the centre of global
investment, grids will prove to be a weak link electrification, overtaking coal in 2015 and
in the transformation of the power sector, with meeting 80% of new demand by 2030.
implications for the reliability and security of Renewable sources of electricity have been
electricity supply. resilient during the COVID-19 crisis and are
Therefore flexible power systems are needed set for strong growth, rising by two-thirds from
to serve as the key drivers of energy security. 2020 to 2030 in the STEPS.
New, more adaptable networks have a cen- By 2030, hydro, wind, solar PV, bioenergy,
tral part to play in unlocking flexibility from geothermal, concentrating solar and marine
power plants, energy storage and demand-side power between them will provide nearly 40% of
resources. electricity supply.
Digitalisation is set to dominate new grid China will lead the way, expanding electricity
investment, which could reach $460bn per year from renewables by almost 1 500 TWh to 2030,
by 2030, two-thirds more than in 2019. which is equivalent to all the electricity gener-
Over the next 10 years, 2mn km of transmis- ated in France, Germany and Italy in 2019.
sion and 14mn km of distribution lines are set to
be added, 80% more than in the decade to 2020. Mixed outlook
Despite the falling cost of renewables, especially
Electrify everything solar, the IEA is still concerned that its predic-
The outlook predicts that governments and cor- tions will not allow the world as a whole to meet
porations will follow through on their ambitions the Paris Agreement goals.
to “electrify everything.” Emissions might fall, but not by enough to
The report said that electricity demand combat global warnings and limit temperature
growth will globally outpace all other fuels, with rises to 1.5 degrees.
electricity meeting 21% of global final energy “Despite a record drop in global emissions
consumption by 2030. this year, the world is far from doing enough
The electricity sector is set to play a key role to put them into decisive decline. The eco-
in supporting the post-COVID-19 economic nomic downturn has temporarily suppressed
recovery. Electricity will provide more and more emissions, but low economic growth is not a
of the energy that the world needs in the long low-emissions strategy – it is a strategy that
term, the report said. Over time it looks set to would only serve to further impoverish the
evolve into a system with lower CO2 emissions, world’s most vulnerable populations,” said Birol.
a stronger infrastructure base and enhanced As before, the IEA’s report called on govern-
flexibility. ments to act, urging them to put in place sup-
portive policies and regulations and to foster
Regional focus attractive investment climates.
In regional terms, the Outlook finds that in its “Only faster structural changes to the way
Stated Policies Scenario (STEPS), global elec- we produce and consume energy can break the
tricity demand recovers and surpasses pre- emissions trend for good. Governments have the
COVID-19 levels in 2021. capacity and the responsibility to take decisive
Electricity demand growth in India outpaces actions to accelerate clean energy transitions and
other regions until 2030, after which growth is put the world on a path to reaching our climate
most pronounced in Southeast Asia and Africa. goals, including net-zero emissions.”™

Week 41 14•October•2020 www. NEWSBASE .com P5