Market analysis and forecast from 2019 to 2024
The IEA Renewable Energy 2019 report provides an overview of renewable energy use in 2019 and projections for 2024.
While the report addresses the developments of renewable energy in all economic sectors, here we focus on some key messages on renewable energy in transport.
In the transport section, the report emphasizes that in 2018, worldwide, 93% of renewable energy came from biofuels (3,7 EJ), while the remainder 7% was renewable electricity (0,3 EJ), which in total represented 3,7% of all energy consumed in transport. In IEA’s to 2024 both biofuels and renewable electricity will grow in absolute volumes – respectively to 5,1 EJ (+38%) and 0,5 EJ (+67%). The share of renewables in total only grows moderate to 4,5%, as also the use of fossil energy consumption grows.
The section on transport report notes that to encourage higher levels of biofuels in the future, vehicle testing, greater use of drop-in vehicles and sustainability frameworks are required. With more favourable market conditions, biofuel output could increase by 20%, with a rise in volumes of ethanol, biodiesel and HVO. The report emphasizes that if waste fats, oils and grease (FOG) supply chains could be mobilized, there would be sufficient feedstock to scale up production. In an accelerated case, advanced biofuel output could reach 4.2 billion liter by 2024, almost double the 2018 volume.
The report (paper version or PDF) can be purchased at the IEA-site.