Here’s the good news: Wind power, solar power, and other renewable forms of energy are expanding far more quickly than anyone expected, ensuring that these systems will provide an ever-increasing share of our future energy supply. According to the most recent projections from the Energy Information Administration (EIA) of the US Department of Energy, global consumption of wind, solar, hydropower, and other renewables will double between now and 2040, jumping from 64 to 131 quadrillion British thermal units (BTUs).
And here’s the bad news: the consumption of oil, coal, and natural gas is also growing, making it likely that, whatever the advances of renewable energy, fossil fuels will continue to dominate the global landscape for decades to come, accelerating the pace of global warming and ensuring the intensification of climate-change catastrophes.
The rapid growth of renewable energy has given us much to cheer about. Not so long ago, energy analysts were reporting that wind and solar systems were too costly to compete with oil, coal, and natural gas in the global marketplace. Renewables would, it was then assumed, require pricey subsidies that might not always be available. That was then and this is now. Today, remarkably enough, wind and solar are already competitive with fossil fuels for many uses and in many markets.
If that wasn’t predicted, however, neither was this: Despite such advances, the allure of fossil fuels hasn’t dissipated. Iindividuals, governments, whole societies continue to opt for such fuels even when they gain no significant economic advantage from that choice and risk causing severe planetary harm. Clearly, something irrational is at play. Think of it as the fossil-fuel equivalent of an addictive inclination writ large.
The contradictory and troubling nature of the energy landscape is on clear display in the 2016 edition of the International Energy Outlook, the annual assessment of global trends released by the EIA this May. The good news about renewables gets prominent attention in the report, which includes projections of global energy use through 2040. “Renewables are the world’s fastest-growing energy source over the projection period,” it concludes. Wind and solar are expected to demonstrate particular vigor in the years to come, their growth outpacing every other form of energy. But because renewables start from such a small base—representing just 12 percent of all energy used in 2012—they will continue to be overshadowed in the decades ahead, explosive growth or not. In 2040, according to the report’s projections, fossil fuels will still have a grip on a staggering 78 percent of the world energy market, and—if you don’t mind getting thoroughly depressed—oil, coal, and natural gas will each still command larger shares of the market than all renewables combined.