
This market is part of the Humans v Bots Battle 2024, where AI forecasters will duke it out on the most important world questions of 2024. Can you beat the bots and snag part of the 250,000 Mana (~$2.5k) prize?
Resolution based on IEA. Having previously said it would be in 2025, the IEA now thinks it could happen in 2024, “as a result of the accelerated pace of renewable capacity additions” and “the plateauing of electricity generation from coal.”
🏅 Top traders
# | Name | Total profit |
---|---|---|
1 | Ṁ1,276 | |
2 | Ṁ748 | |
3 | Ṁ329 | |
4 | Ṁ324 | |
5 | Ṁ226 |
People are also trading
@FUTURESEARCH I believe this definitively resolves to "No".
In lieu of reading the IEA report again (because I'm lazy), see below source:
Bloomberg: We’re Burning More Coal Than Ever Thanks to China
"The IEA now estimates that global coal demand surged to an all-time high of 8,771 million metric tons this year, up 1% from 2023, as electricity demand rose faster than expected...."
"Renewables are doing some of that job, but coal remains, the go-to fuel to power the energy transition."
"Worse, the IEA revised higher its historical data, so the increase comes from a significantly higher baseline than before. The world is consuming a lot more coal than we thought – and therefore, it’s polluting the atmosphere a lot more than we thought, too."
IEA is now back to saying 2025. https://www.iea.org/reports/electricity-mid-year-update-july-2024
...then it'll be 2026, 2027 etc.
Just joking... but in all seriousness, even with hydropower reclaiming TWh after droughts and whatnot, renewables are still not able to pass coal - that was my only doubt in owning "Yes" shares in that hydro could push it over the line. That being said, there's still a chance this could resolve "No".
Looking at Our World in Data, I get 10,200 TWh of electricity from coal in 2022, with renewables accounting for ~8,500 TWh. IEA now predicts "Higher renewable growth than overall electricity demand growth is likely to push global coal consumption on a downward trajectory. This would imply that coal is likely to peak in 2023. " (https://www.iea.org/reports/coal-2023/demand)
And renewable energy in terms of solar and wind, has been growing by 30+% per year recently, suggesting around 300+ TWh growth in solar and 600+ TWh growth in wind, in 2023. If that growth rate didn't compound, just stayed at +900 TWh for renewables in 2024, and coal didn't peak, just stayed where it is, then 2024 would be at 10,200 twh coal, 10,300 TWh renewables.