The World Energy Outlook 2013 from the OECD's International Energy Agency (IEA) set out the present situation and also present current policies, new policies, and carbon reduction scenarios. Growth to 2035 is 45% under current policies, and 33% under a more restrained scenario. Electricity growth is about double this in each case. Electricity demand almost doubled from 1990 to 2011, and is projected to grow 81% from 2011 to 2035 (from 19,004 twh to 34,454 twh) in the current scenario, and 69% (to 32,150 twh) in the central New Policies scenario. Increased demand is most dramatic in Asia, projected to average 4.0% or 3.6% per year respectively to 2035. Currently some two billion people have no access to electricity, and it is a high priority to address this lack.
With the United Nations predicting world population growth from 6.7 billion in 2011 to 8.7 billion by 2035, demand for energy will increase substantially over that period. Both population growth and increasing standards of living for many people in developing countries will cause strong growth in energy demand. Over 70% of the increased energy demand is from developing countries, led by China and India – China overtook the USA as top CO2 emitter in 2007. Superimposed on this, the UN Population Division projects an ongoing trend of urbanisation, from 52% in 2011 to 62% in 2035 and reaching 70% worldwide by 2050, enabling world population to stabilize at about 9 billion with better food supply, clean water, sanitation, health, education and communication facilities.
Coal is not limited globally, but large amounts need to be moved from where it is plentiful to where it is needed, mainly for power generation. This has both economic and carbon pollution emissions implications (apart from actually burning it). Oil is more finite, in 2012 global production increased to almost 76 million barrels per day (27 billion barrel per annum), and known reserves increased 8% to 1600 billion barrels.
In the World Energy Outlook 2013 New Policies scenario, coal demand increases 0.7% per year from 2011 to 2035, gas increases 1.6% pa, and oil increases 1.1% pa to 2020 then 0.4% pa. For electricity, coal use increases 35% to 2035 thus reducing its share of generation from 41% to 33%, gas increases 72% so that its share remains at 22%, nuclear increases 66% pa to hold its 12% share, and renewables other than hydro increase 483%.
The share of renewables in total power generation rises from 21% in 2012 to 33% in 2040, as they supply nearly half of the growth in global electricity generation. Renewable electricity generation, including hydropower, nearly triples over 2012-2040, overtaking gas as the second-largest source of generation in the next couple of years and surpassing coal as the top source after 2035.
Rapid expansion of solar PV raises fundamental questions about power market designs:
More than $1.6 trillion was invested in 2013 in energy supply, a figure that has more than doubled in real terms since 2000, and a further $130 billion to improve energy efficiency. Renewables are playing a growing role, with annual investing increasing from $60 billion in 2000 to a high point approaching $300 billion in 2011, before falling back since to $250 billion.
The focus of Genera In the UK has been the installation of roof mounted solar assets, with aneye on financially viable ground mount asset whereas in Southern and Eastern Europe Generahas focused mainly on ground mount. In India and Africa the focus is to concentrate on solar,biogas, waste-to-energy, biomethane, the production of which will have positive healthimplications in sanitation, as the use of sewerage, general and bio waste as well as the free sunbeing the primary feedlot.
As a pseudo-agent in renewable energy financing and construction, the company galvanises various parts of the whole by outsourcing to experts in their field core specialisms. For example,Genera has charged tier 1 companies with specific aspect of engineering procurement and construction (EPC) to install all renewable energy assets under our commercial umbrella. We have charged Price Waterhouse Coopers (PWC) with the auditing and tax accounting of thecompany’s finances.
Genera is therefore as in the name, the genus or the new specie of the renewable energy >1MWcommercial and >100MW utility scale renewable market space. One rapid step at a time Generastands to redress the balance in this space, as we have established a strong UK brand, beforeembarking to the developing world. By having ready access to finance means we can quickly Take advantage of deployment time lines.
Genera’s guiding principles are three: