News Formal

Global Energy Industry Emissions Set to Peak in 2024

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 19 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 42%
  • Publisher: 68%

Emissions News

Energy Sector,DNV,Peak

DNV predicts a peak in energy emissions this year driven by solar and battery growth, but faster reductions are needed to meet climate goals.

According to a new report from Norway's DNV, emissions from the energy sector are set to peak this year. The peak would be driven by the increased deployment of solar generation and battery storage. The report claims emissions may eventually halve by 2050, as non-hydrocarbon sources of energy come to account for some 50% of the global energy mix.

Wind power is also seen as crucial for the decline in emissions, with DNV seeing wind capacity rising to account for 28% of electricity generation by 2050. Offshore wind specifically is forecast to expand at an annual rate of 12%. That’s despite current challenges in the growth of this industry in the form of higher costs that are leading to delays in planned projects.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian Oil Industry Goes Silent On Emissions Amidst New LegislationFollowing new legislation that could lead to legal action for 'greenwashing', a Canadian oil industry association has removed all information about emission-cutting activities from company websites, prompting concern from climate activists.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Canadian Oil Industry Shuts Up About Emissions After New RegulationsFollowing new legislation that could lead to legal action for 'greenwashing', Canadian oil sands producers have stopped publicly discussing their emission-cutting activities. This silence has sparked concern among climate activists who argue for further reductions.
Source: OilandEnergy - 🏆 34. / 68 Read more »

UK Oil and Gas Industry Hits Emissions Target Four Years EarlyThe UK oil and gas industry has significantly reduced emissions ahead of schedule, but faces potential tax hikes that could hinder clean energy transition funding.
Source: OilandEnergy - 🏆 34. / 68 Read more »

Banks Pledge $386 Billion to Support India's Renewable Energy IndustryIndia has secured $386 billion in investment commitments from financial institutions to support its ambitious goal of achieving 500 GW of renewable energy capacity by 2030.
Source: OilandEnergy - 🏆 34. / 68 Read more »