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Global Demand Growth of Power Generation, Input Choices and Supply Security

Abstract:
The anticipated global demand growth for energy, and electricity in particular, is mapped for the coming 20 years. Five critical issues implied by this forecast are then spelled out: uncertainty, security of energy supply, energy financing, and the role of nuclear and renewable energy. Finally, based on a review of the energy revolutions which the human race has experienced during history, the paper sketches a long term energy future. It suggests the possibility of a new energy era in the 21st century with electricity and hydrogen as the main final energy and nuclear and renewables as the main primary energy, providing, coincidentally, a solution to the CO2 issues that loom so importantly at the end of the 20th century.

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Energy Specializations: Electricity – Generation Technologies; Electricity – Policy and Regulation; Renewables – R&D and Emerging Technologies; Energy and the Environment – Climate Change and Greenhouse Gases

JEL Codes:
Q2 -
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
O32 - Management of Technological Innovation and R&D
Q54 - Climate; Natural Disasters and Their Management; Global Warming

Keywords: Electricity generation, energy security, carbon dioxide emissions, nuclear energy, Renewables

DOI: 10.5547/ISSN0195-6574-EJ-Vol19-No2-5


Published in Volume19, Number 2 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.