Energy use set to peak in 2032 as industry adapts to lower carbon future

Energy use set to peak in 2032 as industry adapts to lower carbon future

Energy use is projected to peak in 2032, with humanity consuming less from then on, an expert predicted on Tuesday at the Oil & Gas Middle East Future Forum.

Liv Hovem, CEO of DNV GL, an international accredited registrar and classification society headquartered in in Hovik, Norway, made the forecast during a virtual panel discussion on the transition to a lower carbon future.

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“The reason for our forecast is mainly due to the large energy efficiency improvements in all sectors which is accelerated by electrification,” said Hovem.

Electricity demand will more than double in the next 30 years and the supply of solar PV will grow twenty-fold with wind growing ten-fold, predicted