door Baptiste Lambert
published on Sunday, October 22, 2023 at 9:53 AM •
4 min read
Half of the economies have already peaked their use of fossil fuels. That is the analysis of think tank Ember with regard to electricity production.
Why is this important?
The transition to green energy is often accompanied by a wave of pessimism. Yet, a closer look at the global figures reveals some encouraging signs. In September, Fatih Birol, the head of the International Energy Agency (IEA), announced that peak oil production would come before the end of the decade, ten years earlier than expected. Today, Ember shows that there are some reasons for hope when it comes to electricity production.
In the news: It recent report from Ember about electricity production.
According to Ember data, 107 economies have already reached their peak in fossil fuel use for electricity production more than five years ago. Emissions in these 107 economies have fallen by 20 percent in the past decade. Together, these 107 countries represent 38 percent of global electricity demand. Taking into account economies that peaked in the past year, the whole now represents 50 percent of global demand, paving the way for a drop in emissions and a global peak in the electricity sector.
Asia and the Middle East are underperforming
In detail: Europe and North America lead, while Asia lags behind.
The EU, Oceania and North America are on a decline in fossil fuel use, down 30 percent, 20 percent and 15 percent respectively from their peaks. Fossil energy appears to have stabilized at the level of the entire African continent, while Latin America and the Caribbean have been at a plateau for almost a decade. The only regions where the share of fossil fuels in electricity production is still increasing are Asia and the Middle East.
Emissions highlight?
And now? 2023 could be a pivotal year.
This year, 2023, could be the first year in which global emissions in the electricity sector fall, if clean energy growth continues. However, in an earlier analysis, Ember estimates that adverse hydrological conditions stabilized emissions in the first half of 2023. But it is still possible to achieve this goal by 2023, and if not, it will “probably” happen in 2024, the think tank said.
In 2022, electricity production was responsible for 41 percent of global greenhouse gas (GHG) emissions, equivalent to 18.4 billion tons of CO2 equivalent. It was followed by transport (24 percent) and industry (19 percent), according to the IEA.
“Few people realize how far the energy sector of many countries has already progressed in phasing out the use of fossil fuels. For many countries this happened at the same time as a growing demand for electricity. The success of solar and wind energy is such that the peak is even in sight in many emerging economies. We are on the cusp of a new era of fossil fuel phasing out of the global energy sector.”
Dave Jones, Global Insights Lead at Ember.
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2023-10-22 07:53:04
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