The wind and solar industries have reached a record-breaking 12 percent share in worldwide electricity generation last year, according to the most recent Electricity Review report by Ember, an independent energy panel.
“In this decisive decade for the climate, it is the beginning of the end of the fossil age.” Ember electricity analyst and report author Malgorzata Wiatros-Motyka said.
The research presents electricity data for 78 countries starting in 2022, indicating 93% of the world’s demand for electricity.
Solar power’s share in global electricity generation increased to 4.5% in 2022. For 18 years, it was the fastest-growing source due to the 24% percent annual growth.
The wind industry, meanwhile, generated 7.6% in 2022, beating its 6.6% in 2021. The industry rose 17% percent year-on-year.
The rise in generation from wind and solar power was able to meet 80% of the increase in global electricity demand, which reached 2.5% compared to the previous year, the study said.
However, despite the rising record from clean sources of electricity, coal power is still viewed as the highest generator of global electricity, accounting for 36 percent in terms of global electricity.
As coal and gas continuously top in terms of global electricity generation, power sector emissions increased by 1.3 percent last year, due to increased electricity demand.
Surprisingly, 2022 might be the final year of fossil power growth as clean power seems to accommodate all demands, predicted by the report, adding that wind and solar generation was able to limit the increase of coal generation at 1.1%
“The stage is set for wind and solar to achieve a meteoric rise to the top. Clean electricity will reshape the global economy, from transport to industry and beyond. A new era of falling fossil emissions means the coal power phasedown will happen and the end of gas power is now within sight,” Wiatros-Motyka said.
Furthermore, the report see a fall of fossil generation this year, dropping to 0.3%, with larger drops in the coming years as wind and solar energy gains traction.
“The cumulative global solar PV capacity has reached about 942 gigawatts in the last decade, while the global wind capacity reached 853 gigawatts. Countries like China, the US, India and Japan have made some of the largest contributions to the global solar PV capacity,” International Solar Alliance director general Ajay Mathur said.