Wind & Solar Power Now The Clear Champions On Cost
. The first finding in this year’s report is that the carbon intensity of global electricity generation fell to a record low of 436 grams of CO2/kWh in 2022, the cleanest electricity ever. This was due to record growth in wind and solar, which reached, up from 10% in 2021. Together, all clean electricity sources reached 39% of global electricity, a new record high.
Solar generation rose by 24%, making it the fastest growing electricity source for 18 years in a row. Wind generation grew by 17%. The increase in global solar generation in 2022 could have met the annual electricity demand of South Africa, and the rise in wind generation could have powered almost all of the UK. Over sixty countries now generate more than 10% of their electricity from wind and solar.
The second major finding in this year’s report is that wind and solar are slowing the rise in power sector emissions. If all the electricity from wind and solar instead came from fossil generation, power sector emissions would have been 20% higher in 2022. The growth alone in wind and solar generation met 80% of global electricity demand growth in 2022 .
Clean power growth is likely to exceed electricity demand growth in 2023. This would be the first year for this to happen outside of a recession. Ember says that “with average growth in electricity demand and clean power, we forecast that 2023 will see a small fall in fossil generation , with bigger falls in subsequent years as wind and solar grow further.
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