Business News Asia
Fossil fuels such as coal, gas, or oil are increasingly being cast in a bad light, precisely because of their high carbon emissions. Some countries have already taken steps to reduce CO2 emissions by expanding solar, hydro, wind, or even nuclear power. However, gas and coal are still the main sources of electricity in our world. The chart below shows how electricity is generated in the world.
What also stands out in the graph is that the demand for electricity in our world continues to rise. So the small bend in 2020 can’t do anything about that either. Nevertheless, there are still a good 1 billion people in the world who have no access to electricity. These people may also want to raise their standard of living, so it can be assumed that even more electricity will be needed in the future.
Another aspect of the graph shows that far more than half of the world’s electricity is generated from fossil fuels. To replace them according to the plan of the great thinkers will require an incredible amount of investment.
So it remains to be seen what the big thinkers will do to replace the share of fossil fuels. Here we will see whether there really is a well-thought-out plan behind clean energy or whether it is just an illusion and a facade that brings in big bucks.