Biofuel production forecast to increase 25% over the next 5 years
Global biofuel production increased 10 billion litres in 2018 to reach a record 154 billion litres. Double the growth of 2017, this 7% year-on-year increase was the highest in five years. Output is forecast to increase 25% to 2024, an upwards revision from 2018 owing to better market prospects in Brazil, the United States and especially China.
Stronger policy support and innovation to reduce costs are required to get on track
Transport biofuel production expanded 7% year-on-year in 2018, and 3% annual production growth is expected over the next five years. This falls short of the sustained 10% output growth per year needed until 2030 to align with the Sustainable Development Scenario. Stronger policy support and innovation to reduce costs are required to scale up both advanced biofuel consumption and the adoption of biofuels in aviation and marine transport, as envisaged in the Sustainable Development Scenario.
An optimistic outlook for bioenergy in power generation
In 2018, bioenergy electricity generation increased by over 8%, maintaining average growth rates since 2011 and exceeding the 6% annual rate needed through 2030 to reach the level under the Sustainable Development Scenario. As recent positive policy and market developments in emerging economies indicate an optimistic outlook for bioenergy, its tracking status was upgraded in 2018 from ‘more efforts needed’ to ‘on track’.
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