IEA: Power demand to grow 2.8% annually through 2030

Bnamericas Published: Wednesday, November 19, 2008
Power demand in Latin America will grow 2.8% annually through 2030, increasing from 777TWh in 2006 to 1.50PWh, the Paris-based International Energy Agency (IEA) said in its 2008 World Energy Outlook. Brazil, the largest economy in the region, will see its power demand grow 2.3%/y from 375TWh in 2006 to 651TWh in 2030. Global power demand is expected to grow 2.5%/y through 2030. In the developed countries that belong to OECD, demand through 2030 will grow 1.1%/y. Coal will continue to fuel a major part of demand growth, accounting for 44% of all power produced globally in 2030 compared to 41% in 2006. Latin America, meanwhile, will need to add 121GW of capacity through 2015 at a cost of US$123bn. From 2015-30, the region will need to spend US$230bn for 149GW of new capacity to meet growing demand. While hydro power is making a comeback globally, the amount of capacity under construction is falling short of that sought by governments in Latin America. In Brazil, for example, 5GW of hydro capacity is under construction. The government has said that its 76GW installed hydro capacity would double by 2030. IEA expects Brazil's hydro capacity to reach 104GW in 2030, according to the report. Renewable energy will meet 10% of global demand in 2030 compared to 7% in 2006.

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