IEA releases "World Energy Outlook 2020": Solar power may be crowned King！The International Energy Agency (IEA) released the "World Energy Outlook 2020" in mid-October. It maintains the long-term perspective of the past, while at the same time discussing in detail the impact of the Covid-19 epidemic on global energy.

　　The Covid-19 epidemic has caused more damage to global energy than any other incident in recent years, and these effects will continue for several years to come.

　　The IEA found that in 2020, global energy demand will drop by 5%, energy-related carbon dioxide emissions will drop by 7%, energy investment will drop by 18%, oil demand is expected to drop by 8%, and coal use will drop by 7%. The small increase in the contribution of renewable energy forms a sharp contrast.

　　Chart: Compared with 2019, estimates of major energy demand, carbon dioxide emissions and investment indicators in 2020

　　In order to cope with the long-term development of the epidemic and the severely declining economy, global energy demand will have to be postponed until 2025 to gradually rise back to the pre-crisis level. The impact on developing countries has been particularly pronounced.

　　It is estimated that the rise in global poverty levels may make it impossible for more than 100 million people who already have access to electricity (especially in sub-Saharan regions) to afford basic electricity services, forcing these families to rely on more polluting and less efficient energy sources.

　　By 2030, renewable energy will meet 80% of the world’s new electricity demand. Hydropower is still the largest renewable energy source, but solar power is the main driver of growth. After 2022, the installed capacity of solar power will set a new record every year.

　　Chart: 2000-2040, changes in global power generation by energy and scenario

　　Dr. Fatih Birol, Executive Director of the International Energy Agency, said: “I think solar energy will be crowned king in the world electricity market. Judging by the current policy, after 2022, solar energy will be connected to the grid every year. A new record will be set."

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.

　　Solar power generation system with lithium battery energy storage system is a very promising clean energy.