IEA: Pandemic reduces global energy demand by 6% in 2020

The International Energy Agency (IEA) said today that renewable energy will be the only source of electricity for growth in 2020, which has been marked by a significant drop
in energy demand due to anti-coronavirus measures and falling emissions.

Global Primary Energy Demand 1900-2020 (Source: IEA)

The IEA's latest report, Global Energy Review, is based on an analysis
of more than 100 days of real data so far in 2020.
One of its main conclusions is: "The energy sector emerging from this crisis will be very different
from the past.
”

According to the report, energy demand is expected to fall by 6% by 2020, a seven-fold
decline from the level of the 2008 financial crisis.
In the United States, the decline is expected to reach 9%, while in the European Union, the decline will reach 11%.

Electricity demand will contract 5 percent this year, the biggest drop since the Great Depression of the 1930s
.
With the help of hydroelectric power plants (HPP), solar photovoltaic (PV) and wind energy are expected to increase the generation of renewable energy by 5%
by 2020.
Renewables, hydropower and nuclear energy, which are now considered low-carbon energy sources, will reach 40 percent of global electricity generation in 2020, 6 percentage points
higher than coal, according to the report.

The agency predicts that global demand for coal will fall by 8 percent, while natural gas demand will fall by about
5 percent.
For natural gas, this would be "the largest year-on-year decline in consumption on record
since the massive development of natural gas demand in the second half of the 20th century.
" ”

In 2020, the share of natural gas and coal in the global electricity mix will fall by 3 percentage points to its lowest level
since 2001.

According to the report, the coronavirus pandemic and economic crisis will help reduce global carbon dioxide (CO2) emissions by nearly 8% this year, bringing them to their lowest level
since 2010.
The IEA said it would be the largest reduction in emissions on record and almost six times
higher than the 400 million tonne drop caused by the global financial crisis in 2009.

Fatih Birol, executive director of EIA, said: "Looking at the aftermath of the 2008 financial crisis, we are likely to see a sharp rebound
in emissions soon as economic conditions improve.
But by putting clean energy technologies (renewables, energy efficiency, batteries, hydrogen, and carbon capture) at the heart of their economic recovery plans, governments can create jobs, make economies more competitive, and steer the world toward a more resilient and clean energy future
.
”

The projections in the report are based on the assumption that most countries will ease lockdowns in the coming months, which should be accompanied by a gradual economic recovery
.
Actual energy demand this year will largely depend on the duration and severity of measures taken to limit the spread of COVID-19
.
The International Energy Agency (IEA) calculates that a one-month global lockdown in early April could reduce annual global energy demand by about 1.
5%.