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EIA International Energy Outlook 2023 Released

EIA International Energy Outlook 2023 Released

The Department of Energy’s Energy Information Administration (EIA) has released its International Energy Outlook 2023 (IEO2023), which explores long-term energy trends across the world through 2050. The new study projects that global energy-related CO2 emissions will increase by 2050 in a number of IEO2023 cases, as global population growth and higher living standards push growth in energy consumption beyond advances in energy efficiency.

Other key findings from the IEO2023 include a mixed assessment for fossil fuels in some countries, with energy security concerns hastening a transition to alternative energy sources in some countries and driving increased consumption in others. Overall, the report projects that global electricity generation will increase by 30% to 76% in 2050 from 2022, primarily driven by zero-carbon technologies. While the report includes several cases to capture important drivers of change, the modeled cases represent a set of policy neutral baselines that emphasize the current trajectory of the global energy system. The report does include an assessment that “current policies are not enough to decrease global energy-sector emissions” largely due to population growth, regional economic shifts toward more manufacturing, and increased energy consumption as living global standards improve.

To read the full International Energy Outlook 2023, visit: https://www.eia.gov/outlooks/ieo/
 

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