Energy mix Outlook 2050: Only natural gas only fossil fuels in the US, China, India; Coal and oil to decrease worldwide – The Times of India

Natural gas will be the only fossil fuel that registers an increase in the energy mix of the United States, China and India by 2050, even if the use of coal and oil consumption decreases worldwide, according to a sector update by Nuvama Institutional Equits, with reference to S&P Global Commodity Insights.“By 2050, gas is the only fossil fuel with a potential increase in the energy mix for the US, China and India,” the report said. According to Ani news agency, it noted that, despite a strong increase in renewable capacity worldwide, fossil fuels will continue to dominate the energy basket in large economies. It is expected that renewable energy sources will currently grow from 4 percent to around 20 percent in 2050, while it is expected that fossil fuels will still make up more than 50 percent.In India, the report emphasizes, the current energy mix is ​​heavily crooked in the direction of fossil fuels, which are good for 77 percent, while renewable energy sources are only 2 percent. By 2050, fossil fuels are expected to fall to 66 percent and renewable energy sources to 16 percent. Gas, according to the study, will come to the fore as a ‘transition fuel’, which offer flexibility and cleaner alternatives to coal.“In the US, Europe and Southeast Asia, coal-to-gas replacement has been a favorable transition, while India has been left in the use of gas in the energy sector,” the report noted, according to Ani. It added that scalability and commercial challenges hinder a direct shift from coal to renewable energy sources, making gas a critical bridge on the path to Net Zero.The report also marked the role of government regulations in helping the transition. “The category of ‘other energy sources’, essentially traditional biomass (cooking), falls sharply – are being replaced by LPG. Government schemes such as ‘pahal’ and targeted LPG subsidies have driven this shift, which leads to a reduction of 38 percent to 19 percent to 19 percent,” it is not.Although initiatives such as the National Hydrogen Mission and GST cuts to support renewable energy sources demonstrate the intention, the study warned that without systemic flexibility, reforms of the gas market and the scaled up storage capacity, both the climate ambitions on the short and long-term climatic ambitions run. “Gas, if the cleanest fossil fuels, could play a balance role if they are supported by reforms of tax and price,” said the report, adding that the country cannot escape its 2070 net noise without such steps.