Global energy demand will almost double over the next 20 years, in the absence of efficient consumption projects, according to a study by consulting firm PwC on transforming the energy, utilities and resources sectors.

“The energy sector is at the center of massive transformations. Global demand is accelerating, and by 2040 it will be four times higher than it was 30 years ago. The pressure generated by increased demand and concern about climate change will impact on to all segments of the energy industry, utilities and resources”, says David Trow, Partner and Leader of the energy sector services team.

At present, global energy consumption is growing much faster than the population. Thus, if five decades ago, at a population of 3.7 billion people, energy consumption was 5 billion tons of oil equivalent, by 2020 it will increase four times, reaching 19 billion tons of oil equivalent. During this time, the population has doubled, according to Agerpres.

By 2040, there will be 9 billion people on the planet, and consumption will be more than six times higher (32 billion tons) than 50 years ago.

“Implementing solutions to increase energy efficiency could bring significant savings so that demand will advance by only 25%, over the next 20 years, instead of doubling. Fortunately, thanks to technologies based on artificial intelligence, data analysis, the possibility of storing the surplus of energy, renewable resources, etc., companies have more tools and opportunities than ever to successfully make the necessary changes,” said Andreea Mitiriţă, Partner, PwC Romania.