The International Energy Agency on Tuesday said that the economic impact of the coronavirus pandemic could delay a full recovery in the world’s energy consumption to 2025. Under the central scenario of the agency’s annual World Energy Outlook, the global economy rebounds next year, and energy consumption recovers two years later, assuming an available vaccine and therapeutics. However, the projected timeline is pushed back by two years under its “delayed recovery scenario.”
The IEA projects that the world’s energy demand falls by 5% this year, resulting in a7% drop in the global energy-related CO2 emissions. Global energy investment, oil demand, and coal use are expected to decrease by 18%, 8%, and 7%, respectively. Meanwhile, renewable energy use is expected to increase slightly.
