Renewable Energy Growth Hits Record High, Fails to Cut Global Fossil Fuel Share
2023/6/29
In addition, the report, released by the Energy Institute (EI) and its partners KPMG and A.T. Kearney, said that despite record growth in global installed solar and wind capacity last year, global greenhouse gas emissions rose again, further diverting the world from the goals of the Paris Agreement. Earlier this year, A.T. Kearney took over from British Petroleum (bp) the publication of one of the oil and gas industry's most closely watched reports, which has been published for 71 years now.
The latest report shows that global primary energy demand growth slowed to 1.1 percent last year, compared with 5.5 percent growth in 2021, about 3 percent higher than the level before the outbreak in 2019.
Solar and wind power generation continued to soar, adding 266 gigawatts (GW) last year, surpassing previous historical values. Solar accounted for 72% or 192 GW of new installed capacity.
The report notes that despite record growth in renewable energy, fossil fuels still account for 82 percent of global energy consumption.
Simon Virley, vice chairman and head of energy and natural resources at KPMG UK, said, "Despite the breakthrough in renewable energy growth, the share of fossil fuels in world energy remains stubbornly at 82 percent, which should serve as a rallying cry for governments to increase the urgency of the energy transition. "
As energy demand grew 1.1 percent last year, global energy-related emissions continued to grow, up 0.8 percent year-over-year, despite strong renewable energy growth.
"Despite further strong growth in wind and solar power for electricity, total global energy-related greenhouse gas emissions increased again," said EI President Juliet Davenport.
Davenport added, "We are still moving in the opposite direction from what the Paris Agreement calls for."
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