GRFA: IEA report highlights continued demand growth for biofuels

By Global Renewable Fuels Alliance | October 06, 2017

Bliss Baker, president of the Global Renewable Fuels Alliance, has reacted to the International Energy Agency’s latest medium-term outlook on renewable energy by noting that once again projections are anticipating continued increased growth in demand for conventional biofuels.
 
“The IEA’s latest outlook clearly shows the key role that biofuels are playing in efforts to decarbonize the global transport sector” Baker said. “As the only cost-effective and commercially available alternative to crude oil, the significant contributions that biofuels make in reducing GHG emissions from the global transport sector each year will continue to grow.”
 
In spite of increased sales of electric vehicles (EVs) in recent years, the IEA’s latest outlook projects that they will continue to account for less than 7 percent of all renewable energy in global road transport by 2022. Over this same period the IEA is projecting that biofuels are expected to represent more than 90 percent of total renewable energy consumption in road transport, and for total global production of conventional biofuels to grow by an average of 2.6 percent annually from 2017.
 
The IEA’s outlook also included an “accelerated case” forecast for biofuels growth potential that estimates that global biofuel production could increase a further 12 percent, to 178 billion liters (47.02 billion gallons) by 2022.
 
“This latest forecast demonstrates the enormous outstanding growth potential for biofuels in the global transport sector,” Baker said. “Previous projections have outlined how biofuel production could rise to 165,000 million liters by 2030 if the U.S., Canada and Europe adopted a common E15 blending standard. This latest accelerated case forecast by the IEA demonstrates how growing demand for biofuels driven by developing economies could realistically drive these projections much higher in a much shorter timeframe,” he concluded.