Friday, 22 July 2022

Report published by the IEA, global electricity demand set slow in 2022 and 2023tericity

 In recent years, all around the world electricity demand was sharply increased. A recent report published by the international electricity agency said the global electricity demand is seen rising 2.2 percent in 2022 which is lower than the 3 percent that was forecasted in January. It is expected to maintain similar growth in 2023, according to 2022 reports IEA forecasting electricity demand will be down from 6 percent which is the rise in 2021 during the COVID 19 pandemic. In 2021, there are several reports published on electricity shortages all around the world. After the keen shortage of electricity, all the nationals are working on renewable energy to meet the demands of consumers. Here we will discuss the recent report on the international electricity demand of the global. What do IEA reports say about the demand for electricity in different nations that are highlighted below?

The demand of PARIS: there is a sharply slowing in the growth of global electricity demand in 2022 for 2021. There is a time of slower recovery economic growth from the soaring electricity prices, and health restrictions according to the international energy agency of 2021. 

The demand for china: according to the international energy agency, chains' demand for electricity is seen to increase by 3 percent in 2022 but the demand throughout the year remains highly uncertain. The IEA report said that it is expected to increase electricity by 4 percent in 2023; it is time to recover suppressed demand due to the lockdown the year prior. 

Demand in the Middle East: demand in the Middle East is seen sharply increased by 2 percent in both years 2022 and 2023. Africa’s demand for electricity is increased by 4 percent in 2022 which is one percent more than by 2023. 

The demand for Americas: according to a report, America’s demand for electricity is seen growth by 2 percent which is below 1 percent from 2023 at the same time demand for electricity in Europe was less than 1 percent from the expected demand of 2023. 

The demand of India: it is a notable exception slow down in India's electricity demand while high temperatures of India was 7 percent higher the normal so the forecast demand of electricity is 5 percent for 2023. This will affect the price of global electricity in 2022. 

The demand of Asia pacific: electricity demand of Asia- pacific is rising 3.4 percent in 2022 that lower than the previous report and is expected to rise 4 percent in 2023.  

According to IEA, there is a lot of uncertainty in fossil fuel prices and economic growth as well. There are ongoing sanitary measures related to COVID also affect the forecast of global electricity demand.

Increase in renewable energy of supply growth 

  • There is seen fast growth in renewable power generation which is the most important source of generating electricity supply in 2022. This help in the low use of carbon generation that is expected by 7 percent. That will help complete the demand for electricity and lead to a 1 percent drop in fossil fuel generation. 
  • According to IEA, there is the use of renewable energy increased in 2023 which is expected to up 8 percent globally. This is the combination of recovery unclear generation and could displace more gas and coal power use. 
  • This will also help in driving global emissions down half of the percentage in 2022 and expecting one percent in 2023. It helps in the recovery of 2021. 
  • The growth of the use of renewable energy varies from nation to nation. In America, renewable energy uses are expected to continue to drive growth, it is led by the United States, where total renewable energy use is seen up to 11 percent and forecasting growth will see by 6 percent in 2023. This will led to help in the largest emission declines globally.
  • India is also contributing to the use of renewable energy; it is expected to increase the use of coal by 6 percent in 2022 by adding 9 percent to generating renewable energy. 
  • However, global coal use is increased in 2022 according to Europe plans. It has the plan to turn to using more polluted resources in short term for ending the reliance on Russian natural gas, increasing the use of coal by 8 percent while declining 7 percent in gas use.  
  • Europe is the only nation that will increase emissions by 3 percent in 2022, which is expected to fall by 8 percent in 2023. 
  • Chain is not able to generate energy from the goal that is seen falling by one percent a full year. That is not seen the first time; it is continually declining since 2015.
  • There are benefits of the use of renewable sources of energy. It will affect the price of fuel at the global level and growth of economic as well according to report.

Emission in the Asian Pacific region is set to fall in 2022 but it can rise by I percent in 2023 as increment demand growth exceeds additional renewable energy generation.  

Bottom 

This guide mentioned all about the global demand for electricity in 2022 and 2023 which is forecast by the international energy agency. Trying to comprised all the mentioned information in the report which will help you to understand the fluctuation in energy demand 

in the year 2022 all around the world.      

     

 

 

 

   

 

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