BNEF: First Time For Wind and Solar Top 10% Global Power Generation     - Smart Energy Decisions

Solar, Sourcing Renewables, Wind  -  September 22, 2022

BNEF: First Time For Wind and Solar Top 10% Global Power Generation    

Wind and solar projects met over 10% of global electricity demand for the first time in 2022, according to research company BloombergNEF (BNEF). 

Overall electricity demand, production from coal-fired power plants, and emissions all surged in 2021 as the global economy regained its footing following the Covid-19 pandemic, according to a report by BNEF.

 “New spikes in coal generation are a troubling sign for the economy, our health, and the fight against climate change,” Michael R. Bloomberg, UN Secretary General’s Special Envoy for Climate Ambition and Solutions, and Founder of Bloomberg LP and Bloomberg Philanthropies, said in a statement. “This report should be a rallying cry to leaders around the world that the transition to clean energy requires bigger and bolder actions, including actions that empower nations that have contributed the least to climate change – but bear many of its worst consequences – to make progress tackling it.”

 Wind and solar accounted for a combined 10.5% of global 2021 generation and produced nearly 3,000 terawatt-hours of electricity produced, according to BNEF.

 The contribution from wind rose to 6.8% while solar climbed to 3.7%.  Only a decade ago, both wind and solar accounted for less than 1% of total electricity production. 

 In total, 39% of all power produced globally in 2021 was carbon free. Hydro and nuclear projects met just over one-quarter of the world’s electricity needs.

Keywords: BNEF

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