World energy consumption is projected to increase by 48% over the next three decades, led by strong increases in the developing world, especially in Asia, according to International Energy Outlook 2016 (IEO2016), released by the U.S. Energy Information Administration (EIA). IEO2016 presents updated projections for world energy markets through 2040.
IEO2016 projects renewables as the world's fastest-growing energy source, increasing by 2.6% per year through 2040, but fossil fuels still supply more than three-quarters of world energy use. By 2040, coal, natural gas, and renewable energy sources provide roughly equal shares (28%-29%) of world electricity generation, a significant change from 2012, when coal provided 40% of all power generation. Hydropower and wind are the two largest contributors to the increase in world electricity generation from renewable energy sources, together accounting for two-thirds of the total increase from 2012 to 2040. Hydropower and wind generation each increase by about 1.9 trillion kilowatt-hours (kWh) in the IEO2016 Reference case.
