India is getting rid of fossil fuels for energy production
India’s green sector is booming. As a result coal and other fossil fuels will stay in the ground. (Greenpeace)

In its latest annual report, the IEA forecasts global coal demand will remain essentially stable over the next five years, inching up by just over 1 percent between 2017 and 2023.

The forecast adds that coal will provide 25 percent of the world’s energy by 2023, down from 27 percent in 2017.

“In a growing number of countries, the elimination of coal-fired generation is a key climate policy goal. In others, coal remains the preferred source of electricity and is seen as abundant and affordable,” said the IEA, a Paris-based agency that advises developed nations on energy policy.

While developed nations are ditching coal in favor of cleaner-burning gas and renewable energy, India and other emerging markets see fossil fuel as abundant and affordable.

“Miners should brace for another period of sluggish growth”, CNBC says, adding: “The reason for coal’s stagnation remains unchanged from recent years: Developed nations are ditching the fossil fuel, while India and other emerging economies are turning to coal to quickly scale up electric power generation.”

Reuters reports that Israel will stop the use of coal for power by 2030, “joining a host of other countries in an alliance that aims to transition to cleaner sources of energy”.

Editorial Team
The Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with data and insights to deliver useful news updates. We are experts with the mission to inform, educate and inspire the industry. We are passionately curious, enthusiastic, and motivated to positively impact the world. Send us a tip via hello @ pvbuzz [dot] com.

Canadian government to provide $1.6 billion to its struggling oil sector

Previous article

A 13-year-old won $25,000 for a solar-panel invention that can locate the sun at any time

Next article

You may also like

Comments

Comments are closed.

More in News