BAKU, Azerbaijan, July 19. Coal is set to continue leading among other sources for electricity production by 2024, Trend reports.
The International Energy Agency (IEA) estimates that the volume of electricity generation from coal will stand at 10 309 TWh in 2024, followed by renewables, gas, nuclear and other non-renewables.
The table below shows the breakdown of electricity supply by source:
|
Source |
Production in 2022 (TWh) |
Forecasts for 2023 |
Forecasts for 2024 |
|
Coal |
10 450 |
10 409 |
10 309 |
|
Total renewables |
8 546 |
9 132 |
10 160 |
|
Gas |
6 522 |
6 540 |
6 477 |
|
Nuclear |
2 659 |
2 709 |
2 842 |
|
Other non-renewables |
112 |
113 |
113 |
IEA forecasts that in 2024, electricity generation from fossil fuels is expected to decline for the fourth time in six years. Despite a subdued 1 percent growth in 2022, fossil-fired generation is projected to decrease slightly by 0.6 percent in 2023 and further by 1.2 percent in 2024. Traditionally, declines in fossil electricity generation were infrequent, occurring mainly during periods of global energy and financial crises, such as the aftermath of the oil crises in the 1970s or the Great Recession in 2009 when overall electricity demand was depressed. However, in recent years, fossil-fired generation has shown a trend of either lagging behind or experiencing declines even as overall electricity demand has expanded.
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