Access to Energy ( contd)…! – More key statistics

• In 2009 around US$ 9.1 billion was invested globally in extending access to modern energy services. 

• Between 2010 and 2030 according to the new policy scenario of IEA, average US$ 14 billion per year will be invested mostly for new on-grid electricity connections in urban areas but it will still leave 1 billion people without electricity and 2.7 billion without clean cooking facilities in 2030. 

• To achieve universal modern energy access by 2030 average annual investment needs to be around US$ 48 billion per year so additional US$ 34 billion per year is required. Therefore private, public and other sources of funding needs to be mobilized to fill the gap. 

• According to IEA estimates US$ 18 billion per year is needed from multilateral and bilateral development sources, US$ 15 billion per year from government and US$ 15 billion per year from the private sector.  

• Achieving universal energy access by 2030 will increase the global electricity generation by 2.5%, demand for fossil fuels by .8% and CO₂ emissions by 0.7% but would help prevent 1.5 million premature deaths per year. 

• Developing countries importing oil are facing prices in excess of US$ 100 a barrel and their total expenditure for oil import was around US$ 100 billion or 5.5% of their GDP in 2011. 

• In India, the MNRE (Ministry of New and Renewable Energy) is supporting the solar power through National Solar Mission. The Government of India has set up a target to install 100 GW by 2022 through the investment of Rs. 6.3 trillion($100 billion) in 5 years. This will create huge employment opportunities in this sector.

• Renewable energy will play a crucial role in energy for all scenario of IEA. For example 92% and 80% of the hydro power potential is untapped in Africa and Asia respectively. 

In the energy for all scenario around US$ 0.8 billion is required per year for advanced biomass cook-stoves and additional annual investment of US$ 12 billion per year is required for mini-grid electrification to connect additional 19 million people per year.