Modern bioenergy will have the biggest growth in renewable resources over the next five years until 2023, according to the International Energy Agency’s (IEA) latest market forecast.
While growth in solar photovoltaic (PV) and wind is set to continue in the electricity sector, bioenergy remains the largest source of renewable energy, the report said. This is due to its widespread use in heat and transport, sectors in which other renewables currently play a much smaller role.
“Modern bioenergy is the overlooked giant of the renewable energy field,” said Fatih Birol, the IEA’s Executive Director.
“Its share in the world’s total renewables consumption is about 50 percent today, in other words as much as hydro, wind, solar and all other renewables combined,” he added.
Bioenergy – which refers to energy generated from the conversion of solid, liquid and gaseous products derived from biomass – accounts for roughly 9 percent of the world’s total primary energy supply today.
According to the International Renewable Energy Agency (IRENA), bioenergy use falls into two main categories: traditional and modern. Traditional use refers to the combustion of biomass in such forms as wood, animal waste and traditional charcoal. Modern bioenergy technologies include liquid biofuels produced from bagasse and other plants; bio-refineries; biogas produced through anaerobic digestion of residues; wood pellet heating systems; and other technologies.
The IEA expects modern bioenergy to continue to lead the field, with promising future growth prospects. However, the right policies and rigorous sustainability regulations will be essential to meet its full potential, the report noted.
“Untapped potential of bioenergy in cement, sugar and ethanol industries is also significant. Bioenergy growth in the industry, transport and electricity sectors combined could be as considerable as that of other renewables in the electricity sector,” the agency said.
Overall, renewables will continue to expand during in the years from 2018 to 2023, accounting for 40 percent of global energy consumption growth.
Their use continues to increase most rapidly in the electricity sector, and will account for almost a third of total world electricity generation in 2023.
China leads global growth in renewable energy as a result of policies to decarbonize all sectors and reduce local air pollution. It is slated to become the world’s largest consumer of renewable energy, surpassing the European Union by 2023.
Of the biggest global energy consumers, Brazil has the highest share of renewables by far – almost 45 percent of total final energy consumption in 2023, driven by significant contribution of bioenergy and hydropower.
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