In accordance with the Paris-based International Energy Agency (IEA), “Global Energy Review 2020-The impacts of the COVID-19 crisis on global energy demand and CO2 emissions” India’s energy demand has faced a 30% decrease due to 40 days lockdown to contain COVID-19.
- It means that with each additional week of lockdown, India’s annual energy demand is reduced by 0.6%. The impact on Q1 2020 energy demand in India was modest, with demand increasing by 0.3 relative to Q1 2019.
- In India, energy demand would decline for the first time, following on from low demand growth in 2019.
- The report is based on an analysis of around 100 days of real-data of2020.
- The decline in electricity and transport demand in India is highest among the globe.
Key Points:
Energy demand– Globally, the report projects that energy demand will fall 6% in 2020, seven times the decline after the 2008 global financial crisis. It is estimated that an additional month of the restrictions in place as of early April would reduce global annual energy demand by around 1.5%.
Carbon emissions– A record annual decline in carbon emissions of almost 8%.This would be the largest decrease in emissions ever recorded – nearly six times larger than the previous record drop of 400 million tonnes in 2009 that resulted from the global financial crisis.
Oil demand– 57% of global oil demand has declined at an unprecedented scale due to decline in Road transport and global aviation activities. It should be noted that car sales in India experienced a 50% decline.
Electricity– For 2020, global electricity demand would fall 5%, with 10% reductions in some regions. Full lockdowns have reduced daily electricity demand by at least 15% in France, India, Italy, Spain, the United Kingdom and the US northwest.
Natural gas– Global natural gas demand could decrease by 5% in 2020. In India, it grew at almost 8% in January and February compared with a year earlier.
Coal– It is projected that global coal demand to fall by 8% in 2020, the largest decline since the Second World War. In India, electricity demand and industrial production declined significantly in late March 2020 which resulted in a fall in India’s coal use in Q1 2020.
Renewables– It is estimated that the total global use of renewable energy will rise by about 1% in 2020.
Nuclear– The report projected a decline in nuclear power by 2.5% from 2019 due to lower demand and delays for planned maintenance and construction of several projects. In our estimate for 2020, lockdowns would reduce global nuclear power output by 3% from 2019 levels.
About IEA:
Headquarters location– Paris, France
Executive Director– Dr Fatih Birol
