The total amount of fossil fuels consumed is still set to grow throughout this decade, the merit order and falling price of renewable energies results in faster percentual growth
- Aug 09, 2023, 2:00 PM CDT
Once the renewables get into service, they, like hydro and nuclear generation, go to the front of the line in the power dispatch queue. Figure 1 shows the relationship between real gross domestic product, population and energy consumption for the world, real numbers through 2022 and an estimate for 2027 made by extending the lines. These trends have prevailed for decades. Energy demand grows less than half as much as the economy , but slightly faster than population . It is difficult to argue convincingly that something will come along big enough to upend these relationships over the short term.
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