Thermonuclear, solar energy in for accelerated development, report says

According to the report Global Energy of the Future: Perspectives and Development of the World Fuel and Energy Balance compiled by the Global Energy Association, the share of oil and coal in energy generation will start dropping by the middle of the 21st century. A number of renowned energy experts have contributed to the research, including Global Energy Prize laureates and members of the International Global Energy Award Committee. They explain it by the drive towards cleaner energy and partially to the gradual reduction of oil and coal extraction, which share will drop to 2.1% and 0.9% respectively by 2100. The experts believe that future belongs to solar energy, which share will grow from 7.4% in 2035 by 2.5 times by 2065 to eventually exceed a quarter of the total energy balance by the year 2100.

In turn, thermonuclear energy will start developing fast by the middle of the 21st century. Its share of the energy market is expected to exceed 11% by 2100. More than half of those polled believe that the first few operational thermonuclear reactors will emerge in the next 50 years. They will indicate the humankind’s mastery of new technologies and will help global energy supply exceed demand.

Thanks to the research representatives of the Global Energy Association have managed to determine key players of the global energy market for the near future in addition to sketching out the industry's main development trends. The results indicate that in 15 years the USA (24%) will become the largest producer of fuel and energy resources. It will be followed by Russia (21%) and China (16%). However, in 50 years Russia (19%) will become the top producer, followed by China (18%) and the USA (17%). In 90 years China will be at the top with 20%, followed by Russia (16%) and the USA (14%).

The experts have also managed to formulate the main hindrances impeding the development of the fuel and energy complex in the near future. The number of the main hindrances impeding the development of fossil energy sources includes the growing resentment of this type of energy (34% of those polled) and the need to restructure the usage of these resources due to the current economic situation (21%). Nearly one third of those polled believe that the development of renewable energy sources is slowed down by competition from other types of sources of energy. As many as 32% of the scientists believe that alternative energy sources cannot effectively counteract the shortage of electricity for the next few decades primarily due to the high cost of new facilities. Experts expect the rapid development of bioenergy and the active mastering of new technologies such as operational thermonuclear reactors in the next 50 years.

The report was prepared in honor of the 15th anniversary since the Global Energy Prize was established. It was presented at the Saint Petersburg International Economic Forum on 1 June 2017. Global Energy Prize laureates, members of the International Global Energy Award Committee, other internationally recognized energy experts have contributed to the report. The Global Energy Prize is an independent award for outstanding scientific research and technological development in energy, which contribute to efficiency and environmentally friendly energy sources for the benefit of humanity. The award was established in 2002. The monetary reward for this year’s prize is RUB39 million (around $700,000). Since 2003 the Global Energy Prize has been awarded to 35 Laureates from 11 countries: Canada, France, Germany, Iceland, Japan, Russia, Sweden, Switzerland, Ukraine, the UK, and the USA. The final choice of the laureates is made by the Global Energy Prize International Award Committee, which consists of 20 respected scientists from 13 countries. The list of those eligible to nominate a candidate for the prize consists of more than 3,000 scientists from 90 countries.