In 2022, solar and wind farms accounted for 12 percent of the world’s energy generation, two percentage points higher than the previous record. Such dynamics may herald the beginning of the end of the fossil fuel era, according to a report by independent think tank Ember.
According to experts, the capacity of solar power plants is growing the fastest in the world – they grew by 24 percent in a year. The amount of such energy in the world is enough to fully provide the Republic of South Africa (South Africa) with light and heat. Ember noted that now more than 60 countries produce more than 10 percent of their energy from wind and solar. Together with nuclear power, renewable sources (RES) account for 39 percent of global electricity generation – also a record share, analysts stressed.
“The conditions for solar and wind energy are prepared to ensure a rapid recovery. Clean electricity will transform the global economy, from transport to industry,” said Ember Lead Analyst Malgorzata Wiatros-Motyka.
Despite record growth in renewable energy capacity, experts believe that the pace of development of wind and solar energy lags behind the ever-increasing global electricity needs. Ember clarified that this gap is filled by coal and other fossil fuels, but due to this, humanity is also breaking records in terms of harmful emissions.
However, analysts admit that 2022 could be the peak of emissions from the energy complex and the last year of growth in fossil fuel consumption. According to experts, in 2023, clean energy should fully meet global demand. Ember forecasts a 0.3 percent decline in fossil fuel production this year and a sharper decline in subsequent years.