Love paying exorbitant energy costs?
- Jun 1, 2022 3:28 pm GMT
This item is part of the Special Issue - 2022-05 - Innovation In the Electric Power Industry, click here for more
If the answer is no, start implementing existing solutions.
In 2020 the world consumed an estimated 88 million barrels of oil a day. For the year this was 32,120,000,000 barrels and the Brent Crude spot price as of April 20, 2022, was 107.20 USD barrel. The notional cost of energy is therefore about 3.44 trillion USD for an equivalent of 171,240 terawatt hours in 2019, which equates to 19.5 terawatts. (TW).
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