Global Energy Challenge
“Israel is seeking to be a world leader in the area of alternative energy.”
Shimon Peres, 2006
The widening gap between global energy supply and global energy demand is one of the chief obstacles to a sustainable future.
Rising standards of living, population growth and urbanization is spurring exponential demands for energy. Fossil fuel based energy in the form of oil, gas and coal is forecast to dominate 80 percent of world energy supply for decades to come. Nations worldwide are committing to reduce fossil fuel consumption and to invest renewable energy resources.
The 2015 Joint Report by the International Energy Agency (IEA) and the Nuclear Energy Agency (NEA) notes a shift from fossil-based technologies in favor of renewables: “The cost of renewable technologies – in particular solar photovoltaic – have declined significantly over the past five years: these technologies are no longer cost outliers.” Indeed, the European Energy Council (EREC), estimates that alternative energies will reach almost half of all energy sources of the world by 2040.
IEA 2015 Energy Outlook
IEA 2015 Energy Outlook (https://www.iea.org/publications/freepublications/publication/WEIO2014.pdf)