The vicious cycle of energy security

SGGP September 5, 2023 06:34

According to the IEA report, although the total amount of electricity generated from renewable sources has increased three times in the period 2000-2022, if relying on renewable energy alone, it cannot generate enough electricity to meet the demand from developing economies .

The world is still dependent on coal-fired power for economic development and post-pandemic recovery. Photo: World Nation News

The International Energy Agency (IEA) has just released a report showing that coal demand in India, the world's second-largest thermal power producer, has increased by 8% by 2022. Indonesia, with a 36% increase in demand, has become the world's fifth-largest thermal power consumer.

Meanwhile, many countries in Europe have also reversed their coal phase-out policies due to a lack of natural gas. According to the IEA report, although the total amount of electricity generated from renewable sources has increased threefold between 2000 and 2022, relying on renewable energy alone cannot generate enough electricity to meet the demand from developing economies.

The IEA also reported that in 2022, global coal consumption is estimated to increase by 1.2% compared to 2021, exceeding 8 billion tons. And global demand for fossil energy is expected to reach a new high this year.

Coal is cheap and reliable, and developed and emerging economies rely on it in times of emergency. Germany, a leader in decarbonization, has also ramped up coal power generation as energy shortages worsen due to disruptions in Russian gas supplies. France has also restarted coal plants.

In Japan, coal accounts for about 30% of total electricity production. The country's dependence on coal increased by about 5% after the accident at the Fukushima nuclear power plant in 2011. This is considered a vicious cycle between ensuring energy security and action against climate change.

The Paris Agreement on climate change aims to keep global temperature increases below 1.5 ^° C above pre-industrial levels. Temperature increases of more than 1.5 ^° C would significantly increase the risk of heatwaves, heavy rainfall and other climate risks.

According to the United Nations Intergovernmental Panel on Climate Change, the world is only allowed to emit an additional 400 billion tonnes _{of CO2} if it wants to meet the target of limiting warming to 1.5 ^° C. If current annual emissions of 40 billion tonnes continue, the world will have just 10 years to act.

Source