Yesterday, the U.S. Energy Information Administration (EIA) released it’s annual International Energy Outlook 2013, in which it projects that world energy consumption will increase 56% by 2040.
The report cites growth in the developing world as a primary cause for the increased energy demand, with over half of the total world increase attributable to China and India.
The fastest-growing energy sources are renewable energy and nuclear power, each growing at a rate of 2.5% per year. However, despite the solid growth in those sectors, fossil fuels are projected to still satisfy almost 80% of the world energy demand in 2040.
Accounting for the fossil fuel consumption projections, the EIA forecasts that given current policies and regulations, greenhouse gas emissions will increase 46% to 45 billion metric tons by 2040, with Asia accounting for 70% of that increase.