The Projections for the Future and Quality in the Past of the World Energy Outlook for Solar PV and Other Renewable Energy Technologies

Global energy demand has grown steadily since the industrial revolution. During the two decades from 1991 to 2012, total primary energy demand (TPED) grew from 91,200 to 155,400 TWhth, or by 70%, and projections expect this number to increase by a further 40% by 2040. Although greenhouse gas emissions in the energy sector have to be reduced to zero by mid-century or earlier to avoid an ecologic disaster, less than 15% of this energy demand is supplied by renewable resources nowadays. The International Energy Agency (IEA) has a significant impact on both political and economic decisions of governments and stakeholders regarding energy. The World Energy Outlook (WEO) report published annually by the IEA projects for the decades to come how TPED and electricity generation, amongst others, will evolve for all major technologies. Since the WEO is often used as a basis for policy making on renewable and conventional energy, a comprehensive analysis of past WEO projections is crucial. Such analysis will ensure well-grounded and realistic energy policy making and can contribute to efforts to fight climate change and to achieve energy security. In this article, the deviation between the real figures documented in the latest WEO reports and the projections of earlier ones is analysed, as well as the different projections of all reports from 1994 to 2014. The results obtained so far show that projections for solar technologies and wind energy have been strongly underestimated, whereas projections for nuclear energy are contradictory from one year to the next. A key reason for the high deviations of solar PV and wind capacities in the projections and the historic data is an incorrectly applied growth pattern. The WEO reports assume linear growth, whereas history shows an exponential growth for the new renewable energy (RE) technologies. The current exponential growth is part of long-term logistic growth of new RE technologies. Furthermore, a model proposed regarding RE technologies shows that to satisfy the world’s needs with sustainable technologies in the decades to come, the approach of the WEO reports needs to be substantially reworked. Due to continuously falling prices of renewable energy technology, one can expect a fast deployment of renewables and a replacement of conventional energy. In its latest projections the WEOs did not take into account recent developments, including measures on climate protection and divestment of finance from the conventional energy sector. Therefore, policy-makers are advised to consider the expansion of renewables well beyond the WEO projections in their energy policies in order to avoid stranded investments in future