Daily Management Review

Global energy consumption drops to the lowest since 1945


Global energy consumption in 2020 will fall by 4.5% year-on-year, the highest level of decline since 1945, according to BP's annual Statistical Review of World Energy 2021.

"Energy consumption fell by 4.5% in 2020, the biggest drop since 1945," the review said.

It notes that oil accounted for three-quarters of the drop, although natural gas and coal also showed significant declines in terms of consumption. Renewable energy sources (RES) - solar, wind and hydropower - increased in consumption.

Of all countries, the US, India and Russia saw the biggest drops in energy consumption. China was one of the few countries where, on the contrary, consumption grew. Growth there was 2.1%.

Also, global power generation fell by 0.9% in 2020, according to the annual statistical review of World Energy 2021 (Statistical Review of World Energy) by the British company BP.

This is a record fall in the history of BP's observations, i.e., in 35 years. The company has been making observations since 1985.

"Electricity generation fell by 0.9%. This is higher than the decline in 2009 (0.5%)," the survey said.

The generation mix itself has changed slightly over 2020. Thus, the share of coal fell by 1.3% to 35.1%, marking an all-time low. In contrast, the share of renewable energy increased from 10.3% to 11.7%, with wind power showing the largest growth.

source: reuters.com