by kublikhan » Sun 30 Oct 2022, 14:57:22
$this->bbcode_second_pass_quote('', 'R')enewables experienced yet another year of record growth in power capacity, despite aftershocks from the pandemic and a rise in global commodity prices that upset renewable energy supply chains and delayed projects. The role of renewables in improving energy security and sovereignty by replacing fossil fuels became central to discussions, as energy prices increased sharply in late 2021 and as the Russian Federation’s invasion of Ukraine unfolded in early 2022.
Investment in renewable power and fuels rose for the fourth consecutive year, reaching USD 366 billion, and a record increase in global electricity generation led to solar and wind power providing more than 10% of the world’s electricity for the first time ever.
At the same time, diverse factors continued to slow the global shift to renewable-based energy systems. A rebound in worldwide energy demand, which increased an estimated 4% in 2021, was met largely with coal and natural gas and led to record carbon dioxide emissions (up 6%, adding more than 2 billion tonnes). Large sums also continued to be invested in and to subsidise fossil fuels, with the USD 5.9 trillion in subsidies spent in 2020 equivalent to roughly 7% of global gross domestic product. The slow progress in energy conservation, energy efficiency and renewables prevents the transition away from fossil fuels that is necessary to meet global energy demand and reduce greenhouse gas emissions. A structural shift in the energy system is increasingly urgent. An energy-efficient and renewable-based economy is a game changer for a more secure, resilient, low-cost – and sustainable – energy future.
Despite supply chain disruptions, shipping delays, and surging prices for wind and solar energy components, renewable power capacity additions grew 17% in 2021 to reach a new high of more than 314 gigawatts (GW) of added capacity. The total installed renewable power capacity grew 11% to reach around 3,146 GW, although this is far from the deployment needed to keep the world on track to reach net zero emissions by 2050.
During 2021, China became the first country to exceed 1 terawatt of installed renewable energy capacity. Its total installed capacity of renewables increased 136 GW during the year, accounting for around 43% of global additions.
Renewables generated 28.3% of global electricity in 2021, similar to 2020 levels (28.5%) and up from 20.4% in 2011. Despite the progress of renewables in the power sector, the surge in global energy demand was met mostly with fossil fuels.
TRANSPORT
Transport remains the sector with the lowest share of renewable energy use, with the overwhelming contribution coming from biofuels.
In 2021, electric car sales totalled 6.6 million worldwide, more than doubling from 2020, while sales of other electric vehicles such as two- and threewheelers and buses also saw significant increases.
RENEWABLES 2022 GLOBAL STATUS REPORT$this->bbcode_second_pass_quote('', '*') Renewable energy installations broke new records in 2021, according to the International Energy Agency.
* And despite rising raw material costs, installations are expected to rise by 8% in 2022.
* Solar is expected to account for 60% of the increase in global renewable capacity this year.
Now the International Energy Agency (IEA) expects that record to be beaten again in 2022. The IEA says 2021’s 6% growth will be followed by an 8% rise in installed capacity in 2022, led by a surge in solar power. However, progress has been uneven, with a 17% decline in new wind installations in 2021 offset by the rise in solar and hydropower.
Even if current high energy prices are maintained, the IEA says solar will retain and even increase its cost advantage over the next two years. This is despite the rising cost of raw materials used to construct renewable energy installations. In the past 12 months, the cost of polysilicon used in solar panels has more than quadrupled, says the IEA, while the price of steel rose by 50% and copper by 70%. Overall, raw material costs for all types of renewable energy were 15% to 25% higher.