With the last few years being a rollercoaster ride of energy trends, many are wondering what’s ahead in energy. We can make an educated guess about global energy consumption in 2023 based on current events and historical data. Let’s take a look at what we might expect to see when it comes to global energy usage next year.
Global Energy Consumption in 2023
Due to the sluggish economy and increasing energy prices, global energy consumption is expected to increase by just 1.3% in 2023. This is a significant drop from previous years and could have long-term implications for the global economy. The increased cost of energy will likely cause consumers to become more conservative when it comes to their spending habits. This bay lead to lower consumer spending, which could further slow down economic growth in 2023.
Reasons for the increase in energy consumption
Our over-reliance on technology has largely caused the surging demand for energy. From the ever-increasing reliance on electronic devices to the reduction of physical activities, many everyday activities now require much more energy. Furthermore, reducing screen time for children has also contributed to an increase in energy usage. This is mainly since activities such as watching television require a significant amount of power. As humans strive to live in better conditions, energy consumption is seemingly unavoidable as it provides numerous indispensable services that underpin modern lifestyles and economic activities.
Waning gas supplies
As natural gas supplies dwindle, many countries may be forced back onto fossil fuels like coal as their primary sources of power generation. This could delay the progress that many countries have made toward transitioning to renewable sources of energy such as solar and wind power. This is resulting in higher emissions of carbon dioxide and other pollutants into the atmosphere. Furthermore, this could lead to higher electricity costs for consumers. This is because utility companies pass on their increased costs associated with burning fossil fuels to their customers.
Catastrophic weather events
We are seeing more frequent catastrophic weather events due to climate change. It can wreak havoc on infrastructure systems such as power grids. Severe or frequent events in 2023 could disrupt electricity supply. This would affect both businesses and households alike. These events could also damage infrastructure and strain fragile economies.
Ways to reduce your energy consumption and save money
Reducing energy consumption can save money and promote sustainability. Limiting screen time for children, turning off devices when not in use, reducing screen brightness, setting usage timers, and even slowing internet connection speed can all help conserve energy, reduce emissions, and lower energy bills.
2023 will likely be a challenging year for global energy consumption due to declining gas supplies and potential infrastructure damage from severe weather. It is uncertain how these trends will affect energy usage, but with careful planning and strong government leadership, we can secure access to clean, affordable energy for future generations.