The world is anticipating the end of the COVID-19 pandemic, energy consumption in industry and services is likely to grow. In the longer term, the developing world will increase its energy utilization, leading to growth of global primary energy demand by of 0.4% - 0.6% per year, or a 25% increase by 2050. Housing and urban development are leading this sector.
According to scenarios calculated by energy giant Total SE, massive electrification of transportation will lead to decarbonization, and will require rapid growth in renewables as a source of electricity. This energy transformation will see an explosion of growth in Artificial Intelligence (AI) utilization by up to 50% between 2020 and 2024. This change to smart, 21st century grids will become the gold standard, gradually replacing old “dumb” grids laid down in the 19th and early 20th century in Europe, North America, Japan, China and elsewhere.