United to reduce global transformer losses – Around the world, day and night
The world’s energy consumption is expected to rise significantly in the coming years, especially in regions such as Asia, with strong economic growth that is driving demand
Energy is literally moving today’s world, day and night, everywhere, with a direct correlation to both people’s welfare and economic progress in both advanced and developing countries.
The world’s energy consumption is expected to rise significantly in the coming years, especially in regions such as Asia, where strong economic growth and rising living standards are driving higher demand. The U.S. Energy Information Administration’s 2019 Energy Outlook forecasts a 50 % increase in global energy consumption between 2018 and 2050 with increasingly shifts towards electricity .
All end-user sectors, industry, transportation, commercial and residential will drive the consumption increase with an increasing share of electricity led by different factors such as the urbanization of a growing population, higher accessibility in developing regions, the consolidation of a data driven society, increased product demand and further electrification of transport driven by electrical mobility.
Renewables will become the leading source of primary energy supply, accounting for most of the growth in future electricity generation, with solar and wind power dominating. The increased share of renewables will help the decarbonization of the energy sector, contributing to a significant carbon intensity reduction.
However, the increase in energy demand will mean that the global carbon dioxide (CO2) emissions will continue to grow in the coming decades. Using renewable and clean energy sources will, therefore, not suffice on their own to decarbonize the global energy system, and further means of fast reduction in emissions are needed to keep fighting climate change.
For example, many countries and companies around the world are setting targets to reach net zero – which implies balancing emissions by absorbing and offsetting an equivalent amount from the atmosphere. But, reducing the carbon emissions in the first place must be the main global effort and there is a lot more that can be done with existing proven, more efficient, end use technologies that are not sufficiently used or prioritized.
UN Sustainable Development Goals include goal 13 to “take urgent action to combat climate change and its impacts”, reminding us that greenhouse gas emissions must begin falling by 7.6 % each year starting in 2020 to limit global warming. In the context of the Sustainable Development Goals, the United Nations present energy efficiency as the key contributor to match economic growth and competitiveness along with sustainable development and a reduction of carbon emissions.
In addition, energy efficiency contributes to lower baseload and peak electricity demand, reducing the need for additional power generation and transmission assets as well as reducing consumer energy bills at the same time.