Renewable energy use to increase worldwide
Renewable energy will be the fastest-growing category in global energy use over the next 25 years, according to a projection by the U.S. Department of Energy (DOE), The New York Times reports.
The update, called the International Energy Outlook, expects that renewable energy demand will grow by 2.8 percent per year during that time frame, eventually making up 15 percent of the total global energy demand by 2035, which would be up from the 10 percent rate seen in 2008.
In all, the worldwide energy demand will increase 53 percent from 2008 to 2035, states the report, mostly due to the impact of economic and population growth in China and India.
As renewable energy use rises, the cost of crude oil will continue to climb, increasing to $125 per barrel in 2035, using the value of the dollar in 2009, projects the DOE. In addition, fossil fuels will still account for 78 percent of the world energy use in 2035.
According to the Charleston Gazette, the DOE bases their study on a number of factors, including current laws and regulations. The report does not take into account actions made by governments in the future to encourage the reduction of fossil fuel use and other new energy regulations.