Dr. Birol discusses the changing global energy context and future outlook. Key points include: (1) renewable energy supplied half of global electricity demand growth in 2016 and nuclear capacity reached its highest level since 1993; (2) universal energy access remains a challenge with 1.2 billion lacking electricity and 2.7 billion lacking clean cooking; (3) US shale oil production has increased significantly at lower costs, altering global oil markets; and (4) a growing role for liquefied natural gas and efficiency measures have helped reduce energy demand growth, but more progress is still needed on technologies like carbon capture to meet climate targets.
The keynote speech given by Dr Fatih Birol, Executive Director of the International Energy Agency, to the Joint CSIS-IEA workshop on the strategic role of Natural Gas.
The keynote presentation given by IEA Executive Director Fatih Birol at the “Energy Efficiency for the Future” DEMEX Side Event, Tuesday 12 September 2017.
Watch World Energy Outlook authors Tim Gould, Tae-Yoon Kim, Christophe McGlade, and Johannes Trüby discuss the outlook for fossil fuels following the release of World Energy Outlook 2017: http://bit.ly/2zcoDSM
Dr. Fatih Birol, the Executive Director of the International Energy Agency, gave a talk at Imperial College London on 20 March 2018 to discus how new technologies - including electrification & digitalisation – create opportunities, but also risks & uncertainty.
Dr Fatih Birol, Executive Director of the International Energy Agency, spoke at the EU-US Business to Business Energy Forum in Brussels on May 2, 2019, about the global LNG trade.
The webinar will present the main results of the analysis in the Southeast Asia Energy Outlook 2017, and will cover:
- The implications of Southeast Asia’s growing role in global energy consumption for energy security, the environment and economic development
- A roadmap towards universal electricity access across the region, with details on the mix of fuels and technologies that could achieve this at the lowest cost
- A pathway towards mitigating Southeast Asia’s growing energy security and environmental concerns illustrated in The Sustainable Development Scenario, including the implications for energy sector investment to 2040
This is the third webinar in a series that is presenting the key findings and analysis from the World Energy Outlook 2017.
Speakers: Laura Cozzi, Hannah Daly and Molly Walton. Emanuela Colombo, UNESCO CHAIR in Energy for Sustainable Development, Politecnico di Milano joins as guest speaker.
This report, available for download at www.iea.org/energyaccess, provides:
- A pathway for achieving access to modern energy for all by 2030, identifying policy priorities, detailing investment needs, and the role that decentralised and on-grid solutions may play
- Expanded and updated IEA electricity and clean cooking access databases, and an assessment of the status for all developing countries, reviewing recent trends and policy efforts up to 2016
- A global and regional electricity and clean cooking access outlook to 2030, with a dedicated chapter on sub-Saharan Africa
- An analysis of how energy development can unleash economic growth in sectors such as agriculture, and explores how energy access intersects with other issues such as gender, health and climate change
The annual WEO is the IEA’s flagship analytical publication and a vital guide to future energy trends. In this webinar, you’ll hear directly from the report’s lead authors about the report’s main messages and findings. We’ll also be responding to your questions and comments, submitted either online during the event or in advance by e-mail to WEO@iea.org.
This is the first webinar in a series that will present the key findings and analysis from the World Energy Outlook 2017.
The keynote speech given by Dr Fatih Birol, Executive Director of the International Energy Agency, to the Joint CSIS-IEA workshop on the strategic role of Natural Gas.
The keynote presentation given by IEA Executive Director Fatih Birol at the “Energy Efficiency for the Future” DEMEX Side Event, Tuesday 12 September 2017.
Watch World Energy Outlook authors Tim Gould, Tae-Yoon Kim, Christophe McGlade, and Johannes Trüby discuss the outlook for fossil fuels following the release of World Energy Outlook 2017: http://bit.ly/2zcoDSM
Dr. Fatih Birol, the Executive Director of the International Energy Agency, gave a talk at Imperial College London on 20 March 2018 to discus how new technologies - including electrification & digitalisation – create opportunities, but also risks & uncertainty.
Dr Fatih Birol, Executive Director of the International Energy Agency, spoke at the EU-US Business to Business Energy Forum in Brussels on May 2, 2019, about the global LNG trade.
The webinar will present the main results of the analysis in the Southeast Asia Energy Outlook 2017, and will cover:
- The implications of Southeast Asia’s growing role in global energy consumption for energy security, the environment and economic development
- A roadmap towards universal electricity access across the region, with details on the mix of fuels and technologies that could achieve this at the lowest cost
- A pathway towards mitigating Southeast Asia’s growing energy security and environmental concerns illustrated in The Sustainable Development Scenario, including the implications for energy sector investment to 2040
This is the third webinar in a series that is presenting the key findings and analysis from the World Energy Outlook 2017.
Speakers: Laura Cozzi, Hannah Daly and Molly Walton. Emanuela Colombo, UNESCO CHAIR in Energy for Sustainable Development, Politecnico di Milano joins as guest speaker.
This report, available for download at www.iea.org/energyaccess, provides:
- A pathway for achieving access to modern energy for all by 2030, identifying policy priorities, detailing investment needs, and the role that decentralised and on-grid solutions may play
- Expanded and updated IEA electricity and clean cooking access databases, and an assessment of the status for all developing countries, reviewing recent trends and policy efforts up to 2016
- A global and regional electricity and clean cooking access outlook to 2030, with a dedicated chapter on sub-Saharan Africa
- An analysis of how energy development can unleash economic growth in sectors such as agriculture, and explores how energy access intersects with other issues such as gender, health and climate change
The annual WEO is the IEA’s flagship analytical publication and a vital guide to future energy trends. In this webinar, you’ll hear directly from the report’s lead authors about the report’s main messages and findings. We’ll also be responding to your questions and comments, submitted either online during the event or in advance by e-mail to WEO@iea.org.
This is the first webinar in a series that will present the key findings and analysis from the World Energy Outlook 2017.
This is the accompanying presentation to the hour-long World Energy Outlook 2017 webinar on The New Policies Scenario. Watch the webinar here: https://youtu.be/M6yuRJYeSuM
This was the first webinar in the series of two. It presented the IEA comprehensive analysis on the opportunities and challenges of scaling and accelerating the deployment of clean energy technologies to achieve climate, energy security and economic goals focusing on the power and industry sectors as well as the role of CCS. The following chapters of the report were presented: Transforming electricity systems; Infrastructure for electricity system transformation; Advancing the low carbon transition in industry, Unlocking the potential for CCS. The Global Outlook was presented outlining three IEA ETP decarbonisation scenarios expanding to 2060: Reference Technology Scenario, 20C Scenario and Beyond 20C Scenario. For the first time, ETP2017 shows how the energy sector could become carbon neutral by 2060 if known technology innovations were pushed to the limit.
IEA's view on the developments and trends in the world energy system, up and to 2040.
Without too many words- EFOW view is that we need to urgently reform our present policy approach on Energy, but start to organize Energy Architecture & UN SDGs development/ transition programs to scale.
Watch World Energy Outlook 2017 authors discuss the outlook for power, renewables, and energy efficiency following the release of World Energy Outlook 2017: http://bit.ly/2zcIAsL
This is the accompanying presentation to the hour-long World Energy Outlook 2017 webinar on The Sustainable Development Scenario. Watch the webinar here: https://youtu.be/rRP9YUS_ZaA
IEA World Energy Outlook 2017 (12.8.2017)Brad Keithley
The slidedeck used by International Energy Agency Executive Director Dr Fatih Birol to introduce IEA's 2017 World Energy Outlook. A deep dive both into LNG and China.
The results of the global Energy Architecture Performance Index (EAPI) 2017 highlight key trends in the energy transition moving towards more sustainable, affordable and secure energy systems around the world, as well as the challenges countries continue to face, individually and as cohorts. Looking back at five years of data from the EAPI, this report also distils insights from countries that have shown significant improvements in performance or remained consistently high performers
The International Energy Agency’s Efficient World ScenarioLeonardo ENERGY
The International Energy Agency (IEA) has developed an Efficient World Scenario (EWS) to highlight the benefits to the global energy system from the adoption of cost-effective energy efficiency measures. This presentation will provide an overview of the EWS, which was published in the IEA’s Energy Efficiency 2018 report, and include an examination the potential efficiency gains in the transport, buildings and industry sectors and the policy measures needed to realise this potential.
The International Energy Agency’s Efficient World ScenarioLeonardo ENERGY
The International Energy Agency (IEA) has developed an Efficient World Scenario (EWS) to highlight the benefits to the global energy system from the adoption of cost-effective energy efficiency measures. This presentation will provide an overview of the EWS, which was published in the IEA’s Energy Efficiency 2018 report, and include an examination the potential efficiency gains in the transport, buildings and industry sectors and the policy measures needed to realise this potential.
Energy Reimagined - Influencing outcomes of the future of energy mixEY
What's the recipe for tomorrow's energy mix? We explored three scenarios around the present and future of the energy landscape as introduced at EY’s Energy Reimagined Summit.
This webinar focused on where we are today and how we could achieve key energy-related sustainable developments goals on climate change; air quality and universal access to modern energy.
Similar to Energy Markets: Today and Tomorrow (20)
The International Energy Agency’s annual benchmark for tracking energy investment, World Energy Investment 2019 provides a full picture of today’s capital flows and what they might mean for tomorrow’s energy sector. It assesses whether the frameworks and strategies put in place by governments, the energy industry, and financial institutions are spurring timely investment, and how spending across sectors and technologies matches with the world’s energy security and sustainability needs.
his webinar presented the most recent findings from IEA’s Energy Efficiency Market Report 2018, featuring:
- The Efficient World Scenario: What would happen by 2040 if countries realised all the economically viable energy efficiency potential that is available today?
- The Efficient World Strategy: The policies, technologies and strategies for achieving an Efficient World exist today. Global experiences point the way.
- Special focus on South Africa and other emerging economies: highlights, progress, and potential.
- Findings on the current rate of progress on improving energy efficiency, and historic and current trends.
The webinar was organised by the South African Department of Energy’s Energy Efficiency Initiatives Directorate and the International Energy Agency, and is presented by Joe Ritchie, Energy Policy Analyst at the IEA and report coordinator.
This webinar covers the most recent findings from IEA’s Energy Efficiency Market Report 2018, featuring the Efficiency World Scenario, the Efficient World Strategy, and a special focus on Brazil and Mexico. It includes a discussion on the current rate of progress on improving energy efficiency, as well as historic and current trends. The webinar was organised in cooperation with the Brazilian Ministry of Mines and Energy (MME), Energy Research Office (EPE) and the Mexican Ministry of Energy (SENER), and presented by Joe Ritchie and Edith Bayer.
This webinar covers the most recent findings from IEA’s Energy Efficiency Market Report 2018, featuring the Efficiency World Scenario, the Efficient World Strategy, and a special focus on Brazil and Mexico. It includes a discussion on the current rate of progress on improving energy efficiency, as well as historic and current trends. The webinar was organised in cooperation with the Brazilian Ministry of Mines and Energy (MME), Energy Research Office (EPE) and the Mexican Ministry of Energy (SENER), and presented by Joe Ritchie and Edith Bayer.
This webinar covers the most recent findings from IEA’s Energy Efficiency Market Report 2018, featuring the Efficiency World Scenario, the Efficient World Strategy, and a special focus on Brazil and Mexico. It includes a discussion on the current rate of progress on improving energy efficiency, as well as historic and current trends. The webinar was organised in cooperation with the Brazilian Ministry of Mines and Energy (MME), Energy Research Office (EPE) and the Mexican Ministry of Energy (SENER), and presented by Joe Ritchie and Edith Bayer.
What do changing energy dynamics mean for the world’s largest oil and gas exporters? A new special report, part of the IEA’s flagship World Energy Outlook series, focuses on six key producers, Iraq, Nigeria, Russia, Saudi Arabia, United Arab Emirates & Venezuela, and examines the pressures that they face in different price and policy scenarios to 2040. The drive for energy efficiency and the long-term response to climate change, in addition to technology innovation and the shale revolution, all point to sustained pressure on economies that rely heavily on revenue from oil and gas.
From the rise of connected devices at home, to automated industrial production processes and smart mobility, digital technologies are increasingly changing how, where and when energy is consumed. The IEA’s latest report, Digitalization & Energy, is the first-ever comprehensive effort to depict how digital technologies could transform the world’s energy systems. The report examines the impact of digital technologies on energy demand sectors, looks at how energy suppliers can use digital tools to improve operations, and explores the transformational potential of digitalization to help create a highly interconnected energy system. The report also explores the wider policy implications of increasing connectivity and automation, including for energy security, energy access, employment, data ownership, and privacy. For more info, contact: digital@iea.org.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
Examples of energy digitalization: End-use devices from LED bulbs, electric vehicles, industrial compressors, refrigerator, freezers and thermostats are increasingly being controlled remotely over the internet enabling energy savings and making life more convenient.
Smart grids are the heart of the digital energy future. Advanced metering infrastructure (AMI) can act as control hub, and enable two-way communication between energy suppliers, consumers and intermediaries.
Digitalization has the potential to serve as a key enabler to help G7 countries and others meet key policy objectives, including to increase productivity and enhance sustainability.
But there are also serious challenges that need to be overcome, including data ownership and data privacy, ensuring digital resilience, and effectively dealing with economic and job disruptions.
Especially given digitalization’s potential for disruption, the IEA is making a big push to enhance our capabilities, including the release of a first-ever digitalization and energy report that in October.
The Energy sector can be a substantial job creator. There is no clear one directional employment impact from the energy transition: clean energy investment is a meaningful job creator, but conventional energy also has a large employment, the balance depends on the regional context.
The IEA stands ready to continue supporting G7 activities through our data, analysis , and solutions – both in areas of traditional G7 focus such as energy security and markets, as well as underpinning new energy drivers such as research and innovation, energy-related employment, and global issues such as energy access and investments.
US tight oil (LTO) production has been growing rapidly since 2010 and in 2015 it was at 4.2 mb/d – a rise that has had major implications for oil markets and prices.
You can see a slight dip in 2016 as lower prices and revenues held back production, but we are expecting that to be reversed in 2017 and continued growth over the next five years – even if prices remain in the USD 55-60/bbl range.
Also important to note that - as seen over the past two years - US LTO responds more rapidly to price signals than other sources of supply. The production response of shale at different price levels is therefore critical, as it will play a key role in balancing the market over the medium term.
What is behind the expectation of continued strong growth?
It’s all about cost savings, efficiency and technology improvements.
Average costs were creeping higher until around 2012: when US tight oil producers, on average, needed prices at more than $70 per barrel to break even.
But since then, costs have come down significantly, a fall that accelerated after the oil price came down in 2014. We estimate that the average price required in 2016 to break even had fallen to $40/bbl – a remarkable drop.
Some of these cost reductions are cyclical and will be given back as activity picks up and the cost of supplies and services starts to rise. But there has also been substantial gains in well performance and operational efficiency that continue to underpin a positive production outlook.
Natural gas performs best of all the fossil fuels in our Outlook, with a 50% rise in consumption in 2040. But achieving this kind of rise will not be plain sailing for gas, which faces strong competition from coal in some markets and is being squeezed by the rise of renewables in others.
How gas fares will be determined in the coming years by a major set of changes in the way that gas markets operate internationally. We are all familiar with the shale gas revolution in North America. Now we are on the verge of another gas revolution – this time driven by LNG – that will reshape gas markets for decades to come and also change the gas security equation.
Over the next five years another 130 bcm of liquefaction capacity will come online – mostly in the United States and Australia, creating new options and greater flexibility for buyers of gas. Looking further ahead, we also see the prospect of other countries, notably Canada, Mozambique, Tanzania, joining the LNG export business later in our projections also makes an important contribution to the emergence of a truly global gas market. By 2040, more gas is traded over long distances as LNG than via the traditional pipelines.
But, there comes a point in every revolution when it’s clear that the old rules have gone but no-one is yet sure what the new rules of the game are. This is where we are today. And that presents a risk – the current overcapacity in LNG is absorbed by the mid-2020s but new investment decisions are needed well before this point. The outlines of a new gas market order need to become clear soon if we are to avoid a new round of market tightening in the 2020s.
Pushed by support policies and massive technology cost reductions in recent years, wind and solar PV have been the two fastest growing sources of electricity worldwide since 2010.
[click]
But wind and solar PV are variable renewable resources (VRE) and their input cannot be fully forecast and programmed; system integration of variable renewables has emerged as a major challenge in several countries.
While this is not a technical issue, more flexible power systems will be needed to integrate large shares of wind and solar in cost effective way while ensuring security of electricity supply at all times.
IEA analysis demonstrates that there are a number of different solutions to handle renewables integration and that we will need all forms of flexibility in the future:
Stronger grids and interconnections
Power plants operating in more flexible way – e.g. hydro and gas
Affordable electricity storage (today hydro; in the future maybe batteries as well)
And last, but certainly not least demand side response, which can be very cost effective.
For example, combining ice storage with larger air conditioners, these can be 'charged' when the sun shines, while providing cooling also after sunset via the thermal storage
The IEA is continuing to develop its expertise on this crucial topic, building upon a decade of experience. Under the German and Japanese presidencies, the IEA has provided no-regret options to protect energy security as wind & solar PV increase. We are constantly stepping up our efforts and our next focus will be on enhanced flexibility of power plants – both thermal and renewable ones.
Spain championed renewables integration early on. It pioneered technical requirements that have become standards around the world. The Spanish system operator has systematically increased its capability to manage wind and solar generation.
The dedicated renewable energy control center, which is integrated in the national control centre is just one well known example.
The real achievement in Spain is particularly visible when we look beyond the annual shares of wind and solar PV alone.
What you see here is a figure that compares two things: 1) the annual share of wind and solar and 2) how much wind and solar capacity is installed for each unit of usable interconnection capacity. For example in France, the Netherlands, Portogal and Denmark, this is almost one to1:1 – they can export all of their VRE generation, if they want. But not Spain.
Before the commissioning of the new interconnector with France in 2015, Spain had the lowest amount of interconnection capacity compared to how much wind and solar was installed.
This meant that Spain needed to find its own, domestic flexibility and it did so succesfully.
Late 2015, the new HVDC interconnection between France and Spain was commissioned, which significantly increase the interconnection capacity in Spain. At the same time, the capacity of VRE remained at a similar level compared to the previous year (at around 28 GW).
The additional interconnection capacity provides additional flexibility that will facilitate more wind and solar generation capacity in Spain – should the country chose to step up its ambition in this area again..
[The new link enabled the interconnection capacity between Spain/France to double. The new DC interconnection between Spain and France is the first onshore HVDC interconnection that is fully integrated in the AC grid, i.e. the power flow across the DC link perfectly follows the exchange over the pre-existing AC interconnector.]
Adding to the picture is the central role of energy efficiency in reducing energy demand.
Efficiency measures since 2000 saved IEA member countries 15% of their energy demand in 2015, a saving equivalent to the energy use of Japan and Korea combined
Policies have been a key driver of improved energy efficiency.
While standards have been important, another key policy development has been the increased use of market-based instruments for energy efficiency, such as utility obligation programmes and auction mechanisms. Over the last decade, the number of these policies around the world has quadrupled, and the investment they have stimulated has increased six-fold, to 26 billion dollars in 2015 – 12% of global investment in energy efficiency.
Before I talk about the long-term Outlook for the energy sector, let me spend a few more moments on the facts and figures. As we all know, one main reason why we discuss the need for an energy sector transition towards low-carbon is the fact that energy-related CO2 emissions have been rising stubbornly for more than a century, in line with rising energy demand and economic growth. On the rare occasions that this has not been the case, it has been driven by some form of major economic shock, such as after the oil price shock and US recession in the early 1980s; in 1992 after the collapse of the former Soviet Union; and in 2009 during the global financial crisis.
[CLICK] 2014 was a major change in this regards. It was the first year where emissions stayed flat even though the global economy grew. There were several energy sector trends backing up this observations, but, at the same time, there were also reasons to wonder if this really a structural energy sector change, or rather a cyclical phenomenon.
[CLICK] In 2015, then, the IEA could announce the second consecutive year of no additional growth in energy-related CO2 emissions. Evidence for this being related to an energy transition was mounting: for example, renewables accounted for nearly all of the growth of global electricity demand.
[CLICK] And now, today, I can inform you that 2016 was yet another such year of a stall in global CO2 emissions, although the global economy grew by 3.1%. This clearly shows that some positive trend is emerging.
In the UK emissions fell by 6% due to a record drop in coal use in power generation, enabled by a switching towards gas.
In the US emissions fell by 3.1% the main driver was switch from to coal to gas, renewables and nuclear in the power sector.
In Japan emissions fell by 1.9%, but GDP fell by 0.9%, dragging oil use down across all sectors. Emissions rose in other G7 countries.
Overall Progress
Each year, TCEP assesses the latest progress in technology and market developments, tracks overall progress, and recommends further actions.
TCEP this year shows that only 3 of 26 identified clean energy technologies are on track to meet a sustainable energy transition (one more than last year).
15 technologies showed only some progress, and 8 are significantly off-track and in need of renewed action.
RED
CCS
A global portfolio of large-scale CCS projects continues to prove its viability across sectors, but the pipeline of projects has effectively stalled due to lack of new investment decisions.
Targeted policy incentives to drive large-scale CCS projects forward into deployment are needed to meet the 2DS target of over 400 million tonnes of CO2 (MtCO2) being stored per year in 2025.
Coal
30% of new coal power capacity additions in 2015 used low-efficiency subcritical technology.
To stay on 2DS track, coal-based CO2 emissions must decline by around 3% annually to 2025, led by a retirement in the least efficient technologies and a decline in coal generation not equipped with carbon capture and storage (CCS) after 2020.
Biofuels
Advanced biofuels need a 25-fold scale-up in production volumes by 2025 to be on track with 2DS.
Numerous first-of-a-kind commercial-scale advanced biofuel plants are increasing their production, but mandates for advanced biofuels or reducing the carbon intensity of transport fuels are needed to accelerate uptake.
Buildings
Progress on building energy codes in developing regions last year is a positive step toward 2DS ambitions, but two-thirds of countries still do not have mandatory building energy codes in place.
ORANGE
Nuclear
Nuclear power saw 10 GW of capacity additions in 2016, the highest rate since 1990.
Doubling of the 2016 annual capacity addition rate to 20 GW annually is required to meet the 2DS to offset planned retirements and phase-out policies in some countries. Moreover, 2016 brought only 3 GW of new construction starts, posing risks to the future growth rates of nuclear power generation.
Renewable power
Renewable power capacity additions broke another record in 2016, with over 160 GW of capacity additions and a 6% overall generation growth in 2016.
Renewable power overall is still falling short of longer-term 2DS levels, despite this record breaking growth. It is forecasted to grow by another 30% between 2015 and 2020 and it needs to accelerate by an additional 40% over 2020-25 to reach the 2DS target.
Industry
Industrial sector action must accelerate to meet the 2DS trajectory and keep annual growth in final energy consumption below 1.2% from 2014 to 2025, less than a half of the average 2.9% annual growth since 2000.
While the sector has continued to progress in energy efficiency and low-carbon technology deployment, industrial production growth must be further decoupled from energy use and carbon dioxide (CO2) emissions.
Appliances and lighting
The growing shift to light-emitting diodes (LEDs) in the last two years is encouraging, with LEDs representing 15% of total residential lamp sales in 2015 and expected to have grown to nearly 30% in 2016.
However, electricity consumption by lighting, appliances and building equipment needs to halve from the current 3% average increase per year over the last decade to a 1.5% annual increase in the 2DS.
Fuel economy of light-duty vehicles
Progress in improving the average tested fuel economy of light-duty vehicles (LDVs) has slowed in recent years, from an annual rate of 1.8% in 2005-08, to 1.2% in 2012-15 and only 1.1% in 2014-15.
This trend must be reversed, and an annual fuel economy improvement rate of 3.7% through 2030 must be achieved.
GREEN
Electric Vehicles
A new historic record has been reached in the electrification of passenger transportation, with over 750 000 electric vehicles (EVs) sold in 2016, raising the global stock to two million.
A slowdown in market growth of 40% in 2016 from 70% in 2015 still maintains EVs on track to reach 2°C Scenario (2DS) levels in 2025, but puts the technology at significant risk of missing the 2020 interim milestone and in turn raises risks toward the 2025 goal.
Energy Storage
Storage technologies continued rapid scale-up in deployment, reaching almost 1 gigawatt (GW) in 2016. These advances were driven by favourable policy environments and reductions in battery prices.
Storage technologies need reaching cumulative capacity of 21 GW by 2025 under the 2DS level, requiring further policy action.
d onshore wind
Strong annual capacity growth continued for both solar PV and onshore wind in 2016, with record low long-term contract prices in Asia, Latin America and the Middle East.
Examples of energy digitalization: End-use devices from LED bulbs, electric vehicles, industrial compressors, refrigerator, freezers and thermostats are increasingly being controlled remotely over the internet enabling energy savings and making life more convenient.
Smart grids are the heart of the digital energy future. Advanced metering infrastructure (AMI) can act as control hub, and enable two-way communication between energy suppliers, consumers and intermediaries.
Digitalization has the potential to serve as a key enabler to help G7 countries and others meet key policy objectives, including to increase productivity and enhance sustainability.
But there are also serious challenges that need to be overcome, including data ownership and data privacy, ensuring digital resilience, and effectively dealing with economic and job disruptions.
Especially given digitalization’s potential for disruption, the IEA is making a big push to enhance our capabilities, including the release of a first-ever digitalization and energy report that in October.
The Energy sector can be a substantial job creator. There is no clear one directional employment impact from the energy transition: clean energy investment is a meaningful job creator, but conventional energy also has a large employment, the balance depends on the regional context.
The IEA stands ready to continue supporting G7 activities through our data, analysis , and solutions – both in areas of traditional G7 focus such as energy security and markets, as well as underpinning new energy drivers such as research and innovation, energy-related employment, and global issues such as energy access and investments.