We are approaching “the beginning of the end of the fossil age”, according to the fourth annual Global Electricity Review from energy think tank Ember.
2023 could be the year that renewable power reaches a tipping point where power-generation emissions begin to fall.
These charts show how renewables will replace fossil fuels, and which regions are leading the way in decarbonization.
Power generation could soon be approaching “the beginning of the end of the fossil age”, according to the fourth annual Global Electricity Review from energy think tank Ember.
Could this be the year that renewable power generation reaches a tipping point – where power generation emissions begin to fall? The report’s findings show the huge potential of decarbonizing the electricity sector, since more than 40% of carbon dioxide (CO2) emissions are the result of burning fossil fuels for power generation.
The following charts from the report show how and when renewables will replace fossil fuels in power generation, and which regions are leading the way in decarbonization.
The above chart shows historical levels of annual electricity generation, as well as projections for 2023-2026, and illustrates the significant advances in wind and solar power generation investment during recent years. Projections make 2023 the year when emissions should finally start to fall, mainly the result of a continuation of solar and wind power growth.
Wind and solar power generation is growing by around 15-20% per year – based on a 10-year average – and looks set to outstrip any increases in annual electricity demand by the end of 2023 as they are, in many countries, already cheaper and strategically more secure than fossil fuels.
Other non-fossil fuels are also generating more power, although hydro and nuclear power increases have been less steady, affected by unusual weather patterns.
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