ABSTRACT
The supply of energy for high living standard is one of the eternal and challenging issues for the whole world. According to Energy Information Administration, the projected energy demand for the whole world in 2015 is 572 quadrillion Btu, which will be increased by 43% within a span of next 30 years. Organization for Economic Corporation and Development (OECD) member countries are the top energy consumers [1]. However, such countries are assumed to have slow population and economic growth rate. Therefore, most of the energy demand (~85%) will be required for non-OECD nations due to their emerging population and strong economic growth. For an instance, India and China (non-OECD nations) have the fastest developing economy since 1990. The cumulative energy consumption for both countries has increased from 10% to 24% during 1990–2010 with respect to the total world’s energy consumption and is projected to be 34% by 2040.
