The IEA said that power demand is all ready to develop by nearly 4% in 2022 and 5% in 2021 post dropping 1% in 2020.The mass of this development is anticipated to come from Asia where one of the dirtiest energy sources which is coal is used on a wide scale.
In spite of striking paces in renewable energy- which according to IEA is on right path to grow by 6% in 2022 and 8% in 2021- it will only be capable to reach half of this anticipated demand, with the residue set to be complemented by nuclear power and fossil fuels which is around 45%.
The IEA warned that this might restrict global efforts to fight climate change and decline carbon emissions, particularly offered an expected 5% raise in coal-fired electricity production in 2021.The carbon emanations for the power sector- which have dropped for the last two years- are now on path to achieve a record high in 2022, as per the statement released by the Agency.
As carbon emissions fell throughout the pandemic amid extensive economic shutdown, they quickly rebounded to the levels they were before the pandemic. The power sector is accountable for the enormous production of the world’s emissions, about three-quarters out of which coal is the largest source.The IEA Director of Energy Markets and Security, Keisuke Sadamori said that Renewable power is emerging in most parts of the planet, but it still is not at the position it is supposed to be in. Renewables development has only surpassed demand in 2019 and 2020.