Renewable Energy Sources Outperform Fossil Fuels Indicating a Shift in the Energy Landscape
A report from clean energy think tank,
Ember, shows that last year, wind and solar power generated a record amount of
the world’s electricity, producing 12% of global electricity, up from 10% the
previous year. This development is beginning to spell the end of the fossil age
and ushering in the clean power era, says Ember’s lead author, Malgorzata
Wiatros-Motyka. Although coal power remained the largest source of electricity
globally, producing 36% of all energy in 2022, analysts predict that this will
be the peak of pollution as clean energy meets all new demands this year, with
Ember’s report forecasting a slight fall in fossil generation in 2023. The fear
of a return to coal during the global gas crisis did not happen, as wind and
solar generation met 80% of the rise in global electricity demand last year.
Coal generation rose by only 1.1%, and gas power fell by 0.2%.
The report reveals that the
fastest-growing electricity source for the 18th year was solar, which rose by
24% from 2021.
It is estimated that sun-powered
renewables added enough electricity to power all of South Africa. Meanwhile,
wind generation soared by 17%, enough to power almost all of the UK. Clean
electricity sources (renewables and nuclear) reached 39% of global electricity,
with hydropower producing 15% of this new record. According to Damilola
Ogunbiyi, CEO and Special Representative of the UN Secretary-General for
Sustainable Energy for All, despite the impressive growth of wind and solar
energy, the adoption of renewable energy across countries is uneven, with
developed nations and emerging economies in Asia being disproportionately
benefited.
Suppose we are to achieve economy-wide
net zero by 2050. In that case, electricity must be the first sector to reach
net zero by 2040, which means wind and solar hitting 41% of global electricity
by 2030, as per modelling by the International Energy Agency.
The report shows that over 60
countries generate more than 10% of their energy from wind and solar. European
countries such as Denmark, Lithuania, and Luxembourg are surging ahead,
producing the highest proportion of wind and solar power in their electricity
mix. By metric, Germany produced the most wind and solar capacity of any
European country, followed by Spain and the UK. At the same time, China
generated 1,241 TWh, making it the 800-pound gorilla in the global power
sector. The US, India, and Japan also significantly contributed to the global
solar PV capacity.
With a new era of falling fossil
emissions leading to the coal power phasedown and the end of gas power growth
within sight, clean electricity will reshape the global economy. However, the
power sector still needs to meet net-zero targets globally by mid-century, and
there is still work to be done to ensure that developing countries stay caught
up in climate change and are locked into a high-carbon future.
The report from Ember offers a ray of
hope in the transition from fossil fuels to renewable energy sources. The rise
of wind and solar energy is leading the way to a clean power era, and this
trend is set to continue.
Though renewable energy adoption has
increased considerably, much still needs to be done to keep developing
countries up to par and achieve economic net zero by 2050.