The global energy-needs rise by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand. Urbanization adds a city the size of Shanghai to the world’s urban population every four months. Therefore, CO2 emission will raise by at least 0.6% per year from 2015 to 2040.
Most of the world’s energy growth will occur in countries outside of the Organization for Economic Cooperation and Development (OECD), where strong, long-term economic growth drives increasing demand for energy. Non-OECD Asia (including China and India) alone accounts for more than half of the world’s total increase in energy consumption over the 2015 to 2040 projection period.
Renewables are the world’s fastest-growing energy source, with consumption increasing by an average 2.3%/year between 2015 and 2040. Although consumption of non fossil fuels is expected to grow faster than fossil fuels, fossil fuels still account for 77% of energy use in 2040. world net electricity generation increases by 45%, rising from 23.4 trillion kilowatt hours (kWh) in 2015 to 34.0 trillion kWh in 2040. Electricity is the world’s fastest-growing form of end-use energy consumption, as it has been for many decades.
More than 1 billion people in emerging countries have no access to electricity. Even with electricity production with renewable energy is on the rise in developed countries, fossil fuels still remain the primary source for energy supply due to the ever-increasing demand for electrification. This leads to the paradox that the electrification of the deprived regions opposes the Paris Climate Agreement COP21. At the same time, globally more than 5 billion people have little access to the modern banking system or are completely unbanked, excluding them from the global financial markets.
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"Some believe the rise of the sharing economy will spill over into the renewables sector, propelling the growth of community solar, crowd-funding, and other forms of shared participation in renewable energy development. This could create vast pools of funding for clean energy projects ..." Deloitte 2016