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WHAT'S NEXT?: By 2025 solar energy will be the cheapest energy option globally. In 2040, oil and natural gas are expected to make up nearly 60 percent of global supplies, while nuclear and renewables will be approaching 25 percent. Improvements in energy efficiency in lighting and home appliances are expected to continue to push residential electricity use lower. The burning of coal will fall out of favor. Transportation energy consumption will be rising in correlation to growth in automated vehicles in the coming years.

  • [New] Global competition will grow over access to minerals and technologies that are needed to produce renewable energy. WSJ
  • [New] Green hydrogen could meet up to 25% of the world's energy requirements in less than 30 years, with a market value in excess of $10 trillion. Trade Arabia
  • [New] The energy crisis in Europe and Asia could further increase global demand for oil by 500,000 barrels per day (bpd) compared to a normal market without a crisis in natural gas and coal. OLTNEWS
  • [New] Users switching from gas to oil could account for demand of 500,000-600,000 barrels per day (bpd), adding that the world was now waking up to shortages in the energy sector. Reuters
  • [New] The Scottish Government will allocate at least £1.8 billion over the next five years to support the accelerated deployment of heat and energy efficiency measures in homes and buildings. UK Government
  • [New] The Scottish Government's £62 million Energy Transition Fund will support Scotland's energy sector and the North East, over the next five years, to make progress on energy transition as Scotland moves toward a net zero society by 2045. UK Government
  • [New] Flexibility from technologies such as energy storage, smart and bidirectional charging of electric vehicles, flexible heating systems, and interconnection could save up to £10 billion per year by 2050 by reducing the amount of generation and network needed to decarbonise. UK Government
  • [New] Electricity generation increases to meet a larger share of energy demand, and low carbon hydrogen grows from a near zero base to play a significant role from the 2030s. UK Government
  • [New] Breakthrough Energy Catalyst and the UK government will leverage £200 million of private sector investment to grow the UK's climate technologies it needs to achieve net zero by 2050. Energy Live News
  • [New] The majority of UK homes must first be made more energy efficient before gas boilers are replaced, otherwise electricity costs faced by households will rocket.
  • [New] With just 28 years left to 2050, and facing the need for a massive overhaul of energy systems and land-use practices, governments must plan the necessary public investments and policies. Project Syndicate
  • [New] China plans to increase the non-fossil fuel share of energy consumption from 16% to 20% by 2025, while India has pledged to quadruple renewable electricity capacity by 2030. inkl
  • [New] Both the World Bank and the International Energy Agency project that growth in the use of low-carbon technologies will increase the demand for certain CRMs. Carnegie Endowment for International Peace
  • [New] The accelerating energy crisis and the real estate debt crisis that began with reports on the default of Evergrande Group could still move into a wider range to impact other Chinese companies and even other sectors of the global financial markets. Noor Trends
  • [New] Over the next decades we will witness a strong decarbonisation of the global energy sector, driven by clean power generation, affordable storage solutions and the deployment of the newest technologies driving down energy consumption. Funds Europe
  • [New] Continued advances in material science and battery storage technology will provide Africa access to cleaner and more affordable renewable energy on a massive scale in the coming decade. Forbes Africa
  • [New] GEMC continues to evaluate strategic cooperative opportunities that could enable securing a stable supply of battery minerals critical for the electrification of vehicles and energy storage to the North American market. The Market Herald
  • [New] Decarbonization of the global economy starts with strong and robust corporate clean energy and climate goals, which companies use to create transition plans that determine how companies will achieve their goals. Ceres
  • [New] As EVs gain popularity alongside a drive to replace fossil fuel with renewable energy in generating grid-delivered electricity amid a global decarbonisation campaign to fight climate change, demand for battery metals will keep rising. Black Flag

Last updated: 22 October 2021