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Renewables growth fails to cut global fossil fuel share

GO NET ZERO ENERGY

Renewables growth fails to cut global fossil fuel share

Record increases in solar and wind installations in 2022 failed to cut into the massive 82% share of fossil fuels in global energy consumption amid turbulent energy markets and energy security concerns, the annual Statistical Review of World Energy showed.

Source: EuroNews

This is despite a massive increase in renewable capacity, which grew by a whopping 266 gigawatts.

Renewables, excluding hydropower, accounted for 7.5 per cent of global energy consumption, around 1 per cent higher than the previous year.

Despite further strong growth in wind and solar in the power sector, overall global energy-related greenhouse gas emissions increased again. We are still heading in the opposite direction to that required by the Paris Agreement.

said the president of the UK-based global industry body Energy Institute, Juliet Davenport

The annual report, a benchmark for the industry, was published for the first time by the Energy Institute together with consultancies KPMG and Kearny after they took it over from BP, which had authored the report since the 1950s.

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