INDUSTRY TRENDS ON SUSTAINABLE ENERGY IN GLOBAL ENERGY MIX Below are some of the data, trends, and statements that prove the movement towards Sustainable Energy in Global Energy Mix.
The transportation sector accounted for 26% of global energy use in 2022, predominantly sourced from fossil fuels. The expected shift to electric vehicles and alternative transportation fuels (biofuels, hydrogen) is further attributing to the green transformation. The technology integration such as Advanced Metering Infrastructure (AMI), advanced control and communication network, and cyber security will be able to secure and manage larger shares of variable renewables effectively. By 2050, electricity will constitute 35% of the world’s final energy demand, an increase from 19.5% in 2022. The share of renewables in the global power mix is expected to increase 50% by 2030 and 85% by 2050. In 2022, CCUS projects with a total investment of USD 3 billion were in construction around the world. Notable progress in large-scale projects is also being made in Canada and China with key regulatory advances in Canada, Denmark, Indonesia, Japan, and Malaysia.
Transition from Internal Combustion Engine (ICE)
EVs uptake is now growing exponentially as sales exceeded 10 million Car Sales (Unit), which accounts for 14% of total car sales globally. It is expected to continue growing strongly up to 54% by 2050.
vehicles to Electric Vehicles (EVs) will result in decreased demand for petroleum products and increased demand for electricity.
Green Mobility
Rising electricity demand will require an expansion of power grids and investment in advanced digitalised control system to boost power system’s efficiency, reliability, and security. The shift to renewables to meet growing electricity demand is being accelerated rapidly as countries seek to capitalise energy security benefits and combat climate change. The trend is towards building a robust Carbon Capture, Utilisation, and Storage (CCUS) with over 20 countries worldwide already incorporating CCUS into their plans to reach net-zero emissions, highlighting its prominent role in energy transition.
In 2021, the number of installed smart meters worldwide exceeded 1 billion. Besides, the connected devices with automated controls are expected to reach more than 25 billion units.
SmartGrid
Among the zero carbon technologies, solar photovoltaic and wind are set to grow spectacularly and projected to dominate 70% of global total power capacity by 2050.
Renewable Energy (RE)
CCUS technology is expected to capture around 1 Gt CO 2 in 2030 and to reach at least 4.2 Gt of CO 2 by 2050 under the Net Zero Emission Scenario.
Carbon Capture, Utilisation, and Storage
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Malaysian Technology Strategic Outlook 2023/2024 Energy, Healthcare & Space Industry
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