Business

The share of the sun in the global energy system will increase to 20% in 2050

Fatih Birol, the President of the International Energy Agency (IEA), stated that the share of the sun in the global energy system, which is currently 1%, will increase to 20% in 2050 and the sun will become the biggest energy source in the world.

Fatih Birol, at the online press conference regarding the IEA’s “Zero Emissions in 2050: Roadmap for the Global Energy Sector” report said that this year global emissions will experience the second-largest increase in history and that there is a growing gap between the policies announced by governments and their implementation in practice.

Drawing attention to three important issues in order to reach the zero-emission target, Birol said, “First, we need to make maximum use of existing clean energy resources and technologies. Second, we must center innovation in the energy sector, use and support it in the best way to reduce emissions. Third, we must minimize the use of fossil resources.”

Stating that investments should be increased on the way to zero emissions target, Birol continued as follows:

“Currently, more than $2 trillion is invested in the global energy sector annually. This should increase to $5 trillion annually by 2030. Today’s investments are dominated by fossil fuels, but these investments must be dominated by clean energy resources to reach the target of zero emissions. Of course, these investments will also have an impact on economic growth. According to our calculations, increasing investments can enable the world economy to grow by 0.4% annually. We anticipate that electricity generation from clean energy sources will increase significantly. The current share of the sun in the global energy system is 1%. This ratio will increase to 20% in 2050 and the sun will become the biggest energy source.”

Stating that 30 million additional jobs could be created in the world by 2050 with the investments in clean energy, Birol stated that 5 million jobs could be lost in the fossil fuel sector.

“NO NEED FOR NEW OIL AND GAS INVESTMENTS”

Birol stated that the demand for fossil fuels will gradually decrease and this transformation in the energy sector will significantly decrease the income of countries whose economies are dependent on fossil fuels such as the Middle East, Russia and Nigeria.

Stating that the revenues from oil and natural gas will decrease by approximately 70%, Birol said:

“I would like to share some important milestones on our zero emission roadmap. Accordingly, new fossil fuel supply investments are no longer necessary as of this year. As of this year, there is no need for new coal power plant investments worldwide. In 2035, there will be no more sales of new internal combustion engine cars. When all this happens, the global electricity industry will be carbon-zero by 2030.”

Source: NTV / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published.

Back to top button