Nuclear and renewables are world’s fastest-growing electricity sources up to 2040
The International Energy Outlook published on 11 May by the US Department of Energy’s Energy Information Administration (EIA) shows that global nuclear electricity generation is expected to almost double by 2040.
The report indicates that total energy consumption world-wide will rise by almost 50% up to 2040. This growth will be driven by industrialisation in non-OECD countries, especially in Asia. According to the EIA, global electricity generation will increase by 69% between 2012 and 2040, from 21.6 trillion kWh in 2012 to 25.8 trillion kWh in 2020 and 36.5 trillion kWh in 2040.
Renewable energy sources should be the world’s fastest growing energy source for electricity production between 2012 and 2040 and will increase on average by 2.9% annually. Nuclear energy will be the second fastest growing energy source for electricity production and is expected to increase by 2.3% annually, from 2.3 trillion kilowatt-hours to 4.5 trillion kWh. Nuclear’s share of total primary energy over this period will grow from 4% to 6%.
“Concerns about energy security and greenhouse gas emissions support the development of new nuclear generating capacity,” said the EIA. China alone, which plans to add 139 GW of nuclear capacity by 2040, accounting for 61% of world nuclear capacity growth.
For further information, please read the EIA report.