Energy balance needed to meet global demand

With global energy demand expected to grow 30 per cent by 2040 as per International Energy Agency (IEA) estimates, a sustainable energy balance needs to be achieved to meet this requirement while also ensuring reduction in hazardous emissions, experts said.
A stable and safe energy balance will require a combination of different sources of clean generation — with a mix of wind and solar combined with nuclear power — from every country worldwide, they said.
The Director General of the Russian state atomic energy corporation Rosatom, Alexey Likhachev, said that there will be no place for mono generation in the future global picture.
“In any case, both stability and peak loads will be provided by different types of generation: Solar, wind, and certainly nuclear, geothermal and many other renewables. We definitely consider nuclear energy to be a clean energy source that is environmentally comfortable for humankind,” he said.
In recent times, carbon emissions have reached extremely high levels globally, raising questions about how the world’s energy system should develop in the future.
An increasing number of experts believe that a carbon-free power industry should be developed with all those types of energy generation that are called carbon-free: Wind, water, solar and nuclear.
More and more regions and countries are enthusiastically developing renewable energy projects. The UAE government has announced its intention to invest $163 billion in renewable energy projects to meet more than half of its needs by renewables. In 2016, China invested $32 billion in overseas renewable energy projects and is planning to invest at least $360 billion by 2020.
India is also actively developing renewables. The installed capacity of the country’s wind energy farms, mainly concentrated in the western, southern and northern regions of the country, exceeds 28 GW. India also plans to achieve the target of 100 GW of solar power capacity by 2022.
Incidentally, even Rosatom is not relying on nuclear generation alone these days.
“We believe that the only possible way to achieve sustainable development and preserve the environment of our planet is to create a green energy balance. The solution of the global warming problem lies in the transition to green carbon-free electrical energy generation, to the energy of the atom, sun, wind and water.
This is what future generations are demanding from us,” Likhachev said. — IANS