Which Paris Agreement? Coal consumption hits record 8 billion tons in 2022 – Is it accelerating?
Essays by Eric Worrall
According to the IEA, coal use will decline as soon as Europe’s renewables begin to replace coal.
World coal consumption will hit new high in 2022 as energy crisis shakes markets
December 16, 2022
The rise in coal use in Europe is expected to be temporary, with demand falling in advanced economies in the coming years but remaining strong in emerging Asia.
According to a new IEA report, global coal demand will increase only slightly in 2022 but enough to push it to an all-time high amid the energy crisis, forecasting world coal consumption to maintained at the same level in the following years. the absence of stronger efforts to accelerate the transition to clean energy.
Global coal use will increase by 1.2% in 2022, surpassing 8 billion tons in a year for the first time and eclipsing the previous record set in 2013, according to the report. coal 2022, the IEA’s latest annual market report on the field. Based on current market trends, the report forecasts that coal consumption will remain flat at that level through 2025 as a slowdown in mature markets is offset by continued strong demand in emerging Asian economies. This means that coal will continue to be the largest source of carbon dioxide emissions by the global energy system by far.
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“The world is near a peak in fossil fuel use, with coal going to be the first source of decline, but we’re still going to see a decline,” said Keisuke Sadamori, IEA Director of Energy Markets and Security. Haven’t gotten to that point yet.” “Coal demand remains high and is likely to hit an all-time high this year, pushing up global emissions. At the same time, there are signs that today’s crisis is accelerating the deployment of renewables, energy efficiency and heat pumps – and this will reduce coal demand in the years to come. Government policies will be key to ensuring a safe and sustainable way forward.”
The international coal market remains scarce in 2022, with demand for coal for power generation hitting a new record. Coal prices rose to unprecedented levels in March and then rebounded in June, pushed higher by stresses caused by the global energy crisis, especially natural gas prices. spikes, as well as adverse weather conditions in Australia, an important international supplier. Europe, which has been hit hard by Russia’s sharp cuts to natural gas flows, will of course increase coal consumption for the second year in a row. However, by 2025, European coal demand is expected to fall below 2020 levels.
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I also expect coal use to decline over the next few years, my crystal ball telling me the world is about to enter a severe global recession. But I don’t expect renewables to significantly replace coal use by 2025, because unlike coal, renewables cannot be produced on demand. Renewable energy is only available when the sun is shining or the wind is blowing.
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