Energy Profile - World
"Countries energy profile at a glance"
Energy is an essential commodity that enables socio-economic development.
Climate change and, recently, energy security have forced the world to ramp up the energy transitions efforts. There has been much discussion about roadmaps for the energy transition. Two aspects, however, must be considered: the new (sustainable) energy model i) should not jeopardize energy security, and ii) should be affordable. But, one major difference between fossil power and renewables is that solar & wind are intermittent. Also, renewables (REN) are CAPEX-driven (although they have low OPEX).
In Feb 2022, a major conflict erupted in Ukraine. Global economic prospects have worsened significantly since then. Indeed, the world will have to deal with both short- and long-term scenarios. In the short-term, the epicenter of global shock is (will be) Ukraine (Russo-Ukrainian war) and Taiwan (the "chip battle"). In the long-term, it will be related to the Sino-U.S. power competition, the real-life game of thrones.
Despite this worrisome scenario, renewables expenditures are expected to double over the next 10 years to more than USD 1,400 billion per year, while grid expenditures also are likely to exceed USD 1,000 billion per year in 2030 [DNV, 2022].
The growth of solar PV has been remarkable: 1 GW per year was installed for the first time in 2004. In 2021, 150 GW was added despite supply-chain disruptions due to COVID-19. From 2030, 300 to 500 GW annual additions are expected. By 2050, total installed capacity will be 9.5 TW for solar PV and 5 TW for solar PV + storage (24x greater than in 2020).
Coal, with its high load factor, is best suited for electricity. Oil (and its derivatives), with its high energy density available in liquid form at room temperature, play a primary role in transportation. Natural gas (NG), the greener fossil fuel (made up mostly of methane, releasing 45% less CO2 than coal, and 30% less than oil), is better suited for electricity & heating. Although it requires an expensive pipeline infrastructure, NG play an important role in the renewables integration.
Biomass (Bio) is best suited for electricity & transportation, and hydro, nuclear (Nucl), and renewables (Ren) (solar PV & wind) for electricity. Table 1 shows the main energy sources for most countries in the world.
Country's energy profile
The energy self-sufficiency of a nation, which is given by dividing the total primary energy supply of the country by its total energy production, is an important indicator of the country's sovereignty both in times of peace & conflict. Table 1 shows this and other indicators for most countries in the world.
Table 1: Country's energy profile
* Columns 3 & 4 (Total Energy Production & Energy Self-Sufficiency) with 2019 data
Bio: Biomass; H2: Hydrogen; Hydro: Hydroelectric; NG: Natural Gas: Nucl: Nuclear; Ren: Renewables
WPR: World Population Review
IEA: International Energy Agency
CSIRO: Commonwealth Scientific and Industrial Research Organisation