India is set to see the largest rise in energy demand of any country in the next 20 years. How it meets this increase will have major consequences for its people, its economy and global energy & climate trends.
India has made stunning progress in recent years, bringing electricity to vast numbers of people & rapidly expanding solar & other renewables
The @IEA report shows India now has a huge opportunity to develop its economy further while avoiding the high-carbon path taken by others
More than any other major economy, India’s energy future depends on buildings & factories yet to be built, and vehicles & appliances yet to be made
Based on India’s current policy settings, nearly 60% of its CO2 emissions in the late 2030s come from things that don’t exist today
India faces a range of evolving energy security challenges.
Based on today’s policy settings, its combined import bill for fossil fuels is projected to triple over the next 20 years, with oil by far the largest component.
Strongly expanding clean energy in India can move it toward lasting prosperity & greater energy security.
It’s a massive project requiring big leaps in innovation & extra investment of $1.4 trillion over the next 20 years. But it would save a similar sum on 🇮🇳's oil import bills
The stakes could not be higher, for India and for the world. All roads to successful global clean energy transitions go via India.
Through our deepening relationship, @IEA is committed to supporting India as it makes its sovereign choices on how to build a brighter energy future
For more insights from @IEA’s new India Energy Outlook 2021, join me and lead author @tgouldao at our livestreamed launch event at 10am CET / 2:30pm IST: iea.li/39YnoJr
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The bright prospects of the sector are reflected by continued strong appetite from investors.
This is made clear by shares of solar & wind energy companies outperforming the rest of the energy sector, and by the record level of renewable power capacity auctioned in 2020.
There's lots of talk about peak oil demand, but it misses the point.
#WEO20 shows that the era of global oil demand growth will end in the next decade. But without a big shift in government policies, there's no sign a rapid decline is coming.
The rise of solar, wind & batteries is cause for optimism, but big challenges remain.
A huge one is emissions from inefficient coal power plants, heavy industries & other existing infrastructure around the world – mostly in emerging Asia.
Our special report on clean energy innovation is out!
It shows the stark disconnect between aims for deep cuts in emissions & the current state of energy technologies.
Achieving global energy & climate goals requires a big acceleration in innovation ➡️ iea.li/31Ilitk
Energy efficiency & renewables are fundamental for clean energy transitions.
But about 1/3rd of the CO2 emissions reductions needed to move the 🌍 onto a sustainable path would come from technologies that haven’t yet reached the market today.
Our new report – the 1st in @IEA’s revamped Energy Technology Perspectives series – examines how to speed up innovation to meet energy & climate goals while enhancing energy security
This includes a guide to the status of 400+ clean energy technologies ➡️ iea.li/38jq6qx
Today, @IEA is presenting a Sustainable Recovery Plan for the next 3 years that would enable governments to boost economic growth, create millions of jobs & make 2019 the definitive peak in global emissions.
Our Sustainable Recovery Plan offers a roadmap to achieve major results, including:
1️⃣ Add 1 percentage point to global GDP growth each year
2️⃣ Save or create roughly 9 million jobs a year
3️⃣ Make 2019 the definitive peak in global emissions
Coal is set for the largest decline since WWII alongside sharp reductions for oil & gas.
Nuclear power is less affected, while renewables are the only energy source on the rise in 2020, thanks to priority access to grids & low operating costs.