Worldwide electricity demand is projected to rise by about 85 per cent as living standards rise, economies expand and the need for electrification of society continues.
ExxonMobil, which made this disclosure in its recent report titled: The Outlook for Energy: A View to 2040, expected coal to remain an important source of electricity generation.
The ExxonMobil energy outlook stated that about half of the projected global growth in electricity demand through 2040 will be from the industrial sector.
The report showed that increased need for manufactured goods that accompanies economic growth and a rising middle class, industry, is expected to derive a greater share of its energy from electricity as advanced manufacturing, automation and control technologies will continue to transform the sector.It continued that, “Strong growth also will be seen in the residential/commercial sector, as rising living standards reflect greater electricity consumption by individuals through the wider use of products like air conditioning, water heaters, appliances, computers and smart devices.
The electricity to charge smartphones shows up predominantly in the residential/commercial sector. Electricity used to manufacture smartphones and other consumer goods is in the industrial sector, along with the electricity to operate the data centers and networks that provide the content accessed by smartphones.
Coal is expected to remain an important source of electricity generation, but its share of delivered electricity is expected to drop from 40 per cent to about 25 per cent over. The outlook period as most nations turn to cleaner, less-carbon-intense fuels to improve air quality and curb greenhouse gas (GHG) emissions.
The report expects the biggest gains to come from natural gas and nuclear power, as well as renewable generation like wind and solar.
Natural gas is expected to supply 135 per cent more electricity in 2040 than in 2010.