IEA says 3-fold or greater increase in biofuels possible by 2040

13 Nov 15

The International Energy Agency released its latest World Energy Outlook 2015, saying there are clear signs that an energy transition is under way. The report finds that the plunge in oil prices has set in motion the forces that lead the market to rebalance, and cautions that strong direction is needed from the upcoming United Nations conference on climate change in Paris, COP21.In the New Policies Scenario, renewables meet around 35 percent of the total growth in primary energy demand, the report says. “By 2040, renewable energy accounts for one-third of total electricity generation, one-sixth of heat demand and more than 5 percent of all transport fuel consumption.” The New Policies Scenario assumes that government support for biofuels through blending mandates generally persists. “Biofuel blending mandates are now in place in around 60 countries and, in the New Policies Scenario, demand for biofuels in transport is projected to triple over the Outlook period, exceeding 4 million barrels of oil equivalent per day (mboe/d) by 2040.”
http://ethanolproducer.com/articles/12776/iea-says-3-fold-or-greater-increase-in-biofuels-possible-by-2040

The executive summary and fact sheets are available at the World Energy Outlook 2015 website.

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