“All the batteries currently on Earth store just 10 minutes of the world’s electricity needs.”
UK energy price cap to rise in January 2024 piling more pressure on households
The UK energy price cap is expected to rise by 5% in January 2024, which means that a typical household who pays by Direct Debit will face an annual bill of £1,931, up from £1,834 in the previous quarter.
This increase comes at a “difficult period” for struggling households, as many are already facing higher costs of living due to the pandemic, Brexit, and inflation.
Designed to protect customers
The energy price cap is designed to protect customers from unfair price hikes and ensure that they pay a fair price for their energy. However, it does not limit the total bill, which depends on how much energy is actually used.
Therefore, customers are advised to shop around for better deals and switch to cheaper tariffs if possible. This, however, is easier said than done.
It is also recommended that struggling customers contact suppliers if they have difficulty paying their bills and seek help from schemes, grants, and benefits.
The UK energy price cap is a limit on the maximum amount that energy suppliers can charge customers on standard or default tariffs for each unit of gas and electricity they use. It is set by Ofgem, the energy regulator, every three months based on the underlying costs of energy and inflation.
See Ofgem analysis here.
Global electricity energy demanded by BIG tech
Many large tech companies are planning to create their own energy supply or source power from 100% renewable generators.
BIG tech companies that are generating their own energy or investing in renewable energy projects
Apple
The company claims that it is already powered by 100% renewable energy across its global operations, including its data centres, offices, and retail stores. It also plans to become carbon neutral across its entire supply chain by 2030. Apple has invested in various renewable energy projects, such as solar farms in China, wind turbines in Denmark, and biogas fuel cells in the U.S.
The company has been matching its annual electricity consumption with renewable energy purchases since 2017, and aims to run on carbon-free energy 24/7 by 2030. Google has also been investing in renewable energy projects, such as offshore wind farms in Europe, solar plants in Chile, and geothermal power in Nevada .
Amazon
The company has committed to reaching net-zero carbon emissions by 2040, and to power its operations with 100% renewable energy by 2025. Amazon has also been investing in renewable energy projects, such as solar rooftops in India, wind farms in Ireland, and hydroelectric plants in Sweden.
Estimated current electricity demand
The global electricity energy demand is the amount of electricity that the world needs in a given day. It can be calculated by multiplying the average global electricity demand in GW by 24 hours. According to the International Energy Agency (IEA), the average global electricity demand in 2020 was about 3 TW or 3 000 GW. This means that the global electricity energy demand in 2020 was about 72000 GWh or 72 TWh per day.
However, this is an average value, and the actual demand may vary depending on the season, time of day, weather, and other factors.
Energy requirement
The global electricity energy demand is expected to increase in the future, as population grows and living standards improve. The IEA projects that the average global electricity demand will reach 3.8 TW or 3 800 GW by 2030 and 5.2 TW or 5 200 GW by 2050 in the Announced Pledges Scenario, which reflects the full implementation of net-zero emissions targets by some countries and regions. This implies that the global electricity energy demand will reach 91 200 GWh or 91.2 TWh per day by 2030 and 124 800 GWh or 124.8 TWh per day by 2050.
Energy sources to change
The sources of electricity generation will also change in the future, as renewable technologies such as solar PV and wind become more dominant and coal use declines. The IEA reports that the main sources of electricity generation in 2020 were coal (34%), natural gas (23%), hydropower (16%), nuclear (10%), wind (8%), solar PV (4%), biofuels and waste (3%), and other renewables (2%). In the Announced Pledges Scenario, renewables in electricity generation rise from 28% in 2021 to about 50% by 2030 and 80% by 2050.
Desert location for energy and power generation
Will these projects alter the world weather pattern?
According to a study, installing large-scale wind and solar farms in the Sahara desert could increase rainfall and vegetation in the region. The researchers simulated the effects of covering 20% of the Sahara with solar panels and wind turbines and found that it would trigger a feedback loop of more monsoon rain and more plant growth.
This could have benefits for the local environment and the global climate, as well as providing a huge amount of clean energy for the world.
Could it also create a detrimental effect to the ecosystem too?
10.5 GW solar energy
The desert project would produce 10.5 GW of solar power and 3 GW of wind power. However, there are also challenges and uncertainties involved, such as the cost, feasibility, and environmental impacts of such a massive undertaking.
The Sahara is a desert on the African continent. With an area of 9,200,000 square kilometres, it is the largest hot desert in the world and the third-largest desert overall, smaller only than the deserts of Antarctica and the northern Arctic.
Daily global electricity energy demand
The global electricity energy demand is the amount of electricity that the world needs in a given day. It can be calculated by multiplying the average global electricity demand in GW by 24 hours. According to the International Energy Agency (IEA), the average global electricity demand in 2020 was about 3 TW or 3 000 GW. This means that the global electricity energy demand in 2020 was about 72 000 GWh or 72 TWh per day. However, this is an average value, and the actual demand may vary depending on the season, time of day, weather, and other factors.
The global electricity energy demand is expected to increase in the future, as population grows and living standards improve. The IEA projects that the average global electricity demand will reach 3.8 TW or 3 800 GW by 2030 and 5.2 TW or 5 200 GW by 2050 in the Announced Pledges Scenario, which reflects the full implementation of net-zero emissions targets by some countries and regions. This implies that the global electricity energy demand will reach 91 200 GWh or 91.2 TWh per day by 2030 and 124 800 GWh or 124.8 TWh per day by 2050.
Energy sources
The sources of electricity generation will also change in the future, as renewable technologies such as solar PV and wind become more dominant and coal use declines. The IEA reports that the main sources of electricity generation in 2020 were coal (34%), natural gas (23%), hydropower (16%), nuclear (10%), wind (8%), solar PV (4%), biofuels and waste (3%), and other renewables (2%).
In the Announced Pledges Scenario, renewables in electricity generation rise from 28% in 2021 to about 50% by 2030 and 80% by 2050.