Global energy demand growth will slow and eventually peak, sometime before 2030, the World Energy Council said in a report Monday. “The world’s primary energy demand growth will diminish and per capita energy demand will peak before 2030 due to unprecedented efficiencies created by new technologies and more stringent energy policies,” the report says.
Global demand for energy has more than doubled since 1970, according to the report, but “technological innovation, government policies and lower growth expectations will have a significant impact on the sector in the coming decades.”
Presenting the report at the World Energy Congress in Istanbul, Ged Davis, executive chair of scenarios with the World Energy Council, stated: ““It is clear that we are undergoing a Grand Transition, which will create a fundamentally new world for the energy industry. Historically people have talked about Peak Oil but now disruptive trends are leading energy experts to consider the implications of Peak Demand.”
