La Nación / “The project is cohesive and suitable for the economy”

The ongoing energy crisis and economic downturn are expected to slow global energy demand growth in 2023, but a possible recovery in 2024 means more renewable energy needs to be developed, according to the International Energy Agency. energy (International Energy Agency).

The global growth rate of energy consumption will slow to just under 2% in 2023, Compared to 2.3% in 2022, which is also below the five-year average of 2.4% before the COVID-19 pandemic.

By 2024, the rate is expected to increase to 3.3% as economic prospects improve.The data showed the International Energy Agency. A Paris-based agency predicted this Renewable energies will cover the expected growth this year and next And that energy from renewable sources will for the first time exceed a third of the total electricity supply in the world next year.

However, hydroelectricity has faltered, declining by about 2% in 2020-2022 compared to 1990-2016 numbers.which represents about 240 TWh, or Spain’s annual consumption.

Anticipating hydropower challenges related to climate change Planning accordingly will be crucial for the efficient and sustainable use of hydropower resources.”

Since then, they add, the growth of renewable energy should contribute to reducing global emissions Increased emissions in China and India are expected to be offset by decreases in other countries where renewables are deployed Natural gas is growing to replace coal.

According to data from the International Energy Agency, The European Union alone is responsible for 40% of the total decrease in emissions from electricity generation.

In the first half of this year, The European Union experienced a 6% drop in electricity demand due to energy-intensive industries, Such as aluminium, steel, paper and chemical products have reduced their consumption in response to higher prices. According to the International Energy Agency, a relatively mild winter has had a limited effect on reducing demand.

Wholesale electricity prices have fallen significantly from the records reached last year As a result of the disruptions caused by the Russian invasion of Ukraine, but average prices in Europe are still more than double what they were in 2019, those in India are up 80% and those in Japan more than 30%.

However, prices in the US have fallen back to roughly 2019 levels. State demand is expected to decline by 1.7%. in 2023 due to the slowdown in economic growth and its rebound in 2024 to 2%, down from the 2.6% recorded in 2022.

In China, demand is expected to grow by 5.3% in 2023 and 5.1% in 2024, after a moderate increase of 3.7% in 2022, According to data from the International Energy Agency. Increased use of refrigeration to deal with summer heat waves is expected to drive demand this year.