Managing Energy Sources

Question: Discuss about the Report for Managing Energy Sources. Answer: Introduction The world energy demand has been growing rapidly over the following years in the geographical regions of India and China, while the developed countries are struggling with sluggish economics as well as high oil prices that in turn results in steady or diminishing consumption of energy. It has been predicted that the world demand energy is predicted to increase by 37 percent by the year 2035. China is likely to undertake the US global market for oil and is expected to become the largest consumer of oil internationally (Tie and Tan 2013). Two Geographical Regions in the World Where Energy Demand is Growing As far as the rise in world energy demand is concerned, India is set to contribute more than any other country. As per the scenario, the total energy demand of India is more than double. It is predicted that the energy demand by the year 2040 will be five times more. India plays a key driving force in the worldwide trend with all the modern fuels and technologies playing a part. Rising and falling consumption of coal in power production and industry makes India, by a detachment, the major source of growth in international coal use. India steps up its consumption of renewable directed by solar power, for which India becomes the second largest market in the globe. India also motivates strong demand for energy demanding goods. Energy use in the industry is the largest among the end-use segments. It is predicted that by 2040 it will increase by 50 percent (Sen and Bhattacharyya 2014). Figure 1: The world energy demand in India (Source: Future, 2016) The spectacular economic growth in China is largely due to the increase in the demand for energy. The demand for natural gas is growing rapidly in China. The demand for oil is predictable to grow at an average yearly rate of 3.8 percent by the year 2020. The increase in the demand for world energy in China is mainly due to the fact that the income has been rising as well as the increase in the industrial production (Andrews-Speed et al. 2014). Figure 2: The World Energy Source in China (Source: Eia.gov, 2014) Different Energy Sources The supply for the world energy demand comes from the different energy sources which include mainly the fossil fuels with nuclear power and renewable basis. The sources are mainly originated from the local star that is the Sun (Deng et al. 2013). Figure 3: The Different Sources of Energy (Source: cankan, 2013) The other diverse energy sources include the wind energy. It helps in generating electricity with the help of the turbine. The Geothermal Energy is another source of energy sources. Region will be able to Adequately Supply their Demand Internally China will be able to adequately supply their energy demand as it has access supplies of energy. It is the third largest manufacturer of crucial energy in the world. With the help of local supplies, the country is able to meet the demand for world energy by 90 percent. Conclusion India is the major source of growth in international coal use. India steps up its consumption of renewable directed by solar power, for which India becomes the second largest market in the globe. The demand for oil in China is predictable to grow at an average yearly rate of 3.8 percent by the year 2020. References Andrews-Speed, P., Liao, X. and Dannreuther, R., 2014.The strategic implications of China's energy needs(Vol. 346). Routledge. Deng, Y., Fullerà ¢Ã¢â€š ¬Ã‚ Rowell, T.J., Ridley, A.J., Knipp, D. and Lopez, R.E., 2013. Theoretical study: Influence of different energy sources on the cusp neutral density enhancement.Journal of Geophysical Research: Space Physics,118(5), pp.2340-2349. Sen, R. and Bhattacharyya, S.C., 2014. Off-grid electricity generation with renewable energy technologies in India: An application of HOMER.Renewable Energy,62, pp.388-398. Tie, S.F. and Tan, C.W., 2013. A review of energy sources and energy management system in electric vehicles.Renewable and Sustainable Energy Reviews,20, pp.82-102