IEA’s 2017 World Energy Outlook’s New Policies Scenario report confirms the importance of fossil fuels and nuclear in meeting 60% of all electricity demand in 2040.
Coal powered generation will increase from 9282 terawatt hours in 2016 to 10,086TWh in 2040. At this point, coal will provide 26% of all electricity produced.
Solar PV and Wind produced 1284TWh in 2016. They are expected to produce 8432TWh or 19% of all power by 2040.
Minerals Council interim CEO David Byers said the increase in wind and solar power represented significant demand for Australian iron ore, metallurgical coal, copper, lithium, cobalt, indium and gallium – the building blocks of renewable energy equipment.
“Together, the IEA report highlights increasing demand for Australia’s mineral resources, including thermal and metallurgical coal, uranium and the myriad of other resources Australia’s world class mining sector provides,” he said.
