IEA predicts global peak in coal consumption by 2023
Shafaq News/ The International Energy Agency (IAE) predicted that global coal consumption would peak with increased pressure being experienced in developing countries.
A report by the IAE indicated the need for around 8.5 billion tonnes of coals in 2023, with a projected increase in consumption level at 1.4%.
Coal consumption in India is projected to increase by 8%, while that of China will be 5% as electricity demand is high with less hydropower generation.
Nonetheless, the report predicted a decline of nearly 20% in both the European Union and the USA for coal application in 2023.
From 2026, there are projections by IEA on declining coal use because of the significant increase in renewable energy production capacity. However, with only eight billion tonnes being consumed globally from next year, the figures will still be significantly more critical than that benchmark.
The agency urged a reduction of “coal not produced with greenhouse-gas emission technologies” in line with Paris Agreement goals.
China is supposed to account for more than fifty percent of the expansion of renewable energy globally between now and 2026.
The report also noted that although China consumes more than half of the world’s coal, clean energy expansion, climate patterns, and the transformation occurring in the Chinese economy may impact future coal expectations.
