Global power sector emissions to peak in 2026: Report

Last update 12:01 | 16/06/2017

Global emissions of greenhouse gases from the power sector are expected to peak in 2026, but will still be some way above levels needed to limit temperature rises in line with the Paris climate agreement, research showed on Thursday.

Global emissions of greenhouse gases, power sector, electric vehicles
FILE PHOTO: Steam and other emissions are seen coming from a power station in Wollongong, south of Sydney, Australia, November 17, 2009.

Overall, $10.2 trillion will be invested in new global power generation between 2017 and 2040, with renewable power sources such as wind and solar accounting for almost three quarters of that, a report by Bloomberg New Energy Finance (BNEF) said.

By 2040, global emissions are expected to be 4 percent below 2016’s levels, but an additional $5.3 trillion investment in renewable power would be needed by 2040 to keep rising global temperatures below 2 degrees Celsius (3.6 degrees Fahrenheit).

Under the 2015 Paris deal, more than 190 countries pledged to curb greenhouse gas emissions to keep planet-warming well below 2 degrees to stave off the worst effects of climate change.

The report said the costs of renewable power were expected to continue to fall, with the cost of solar tipped to fall by 66 percent by 2040.

The cost of offshore wind power is forecast to fall by 71 percent by 2040, helped in part by increased competition and economies of scale from larger projects and bigger turbines.

U.S. President Donald Trump said this month he would withdraw his country from the Paris Agreement, [nL1N1IY0MV] but the report said the move is unlikely to revive the U.S. coal industry.

Coal-fired power generation in the United States is expected to fall by 51 percent by 2040, with a 169 percent increase in renewable power helping to fill the void.

“The greening of the world’s electricity system is unstoppable, thanks to rapidly falling costs for solar and wind power, and a growing role for batteries, including those in electric vehicles,” said BNEF analyst Seb Henbest, the report’s lead author.

Homes and businesses with their own renewable generation sources, such as solar panels, are expected to be able to use and even sell the power they generate by storing it in batteries in their cars.

Electric vehicles and their batteries are forecast to account for 12-13 percent of electricity generation by 2040 in Europe and the United States, the report said.

Source: Reuters

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This entry was posted in Năng lượng - Energy and tagged by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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