The Global Electricity Review 2022 revealed that wind and solar power collectively accounted for more than 10% of the world's electricity generation in 2021. The report was compiled by the energy think tan Ember.
In a significant milestone for humankind, data suggests a 9.3% increase from 2020's renewable energy production levels. The report also revealed numbers demonstrating a marked improvement in renewables compared to the enactment of the Paris Climate Agreement.
Fifty countries have now crossed the 10% wind and solar landmark, Ember says, with seven new countries added in 2021: Japan, Vietnam, Mongolia, China, Hungary, Argentina and El Salvador.
Solar energy generation witnessed a substantial growth of 23% in 2021, while wind energy increased by 14%. Equally important is the 9% rise in coal power generation, contributing to environmental concerns.
A separate report earlier this year, Energy Transition Investment Trends 2022, found global investment in low-carbon energy hit a new record of $755 billion in 2021, up by 27% on the year before; the world's 60 largest banks directed a similar amount, $742 billion, to fossil fuel companies in 2021.
In light of these findings, the energy team at the World Economic Forum says “decoupling” from fossil fuels is more important than ever, especially with heightened risks over the security of world energy supplies.
“Following Russia’s invasion of Ukraine, many countries have raised their renewable energy ambitions further,” says Harsh Vijay Singh, Project Lead at the Forum’s System Initiative on Shaping the Future of Energy. “However, bottlenecks remain – mainly on the supply chain side, and on project implementation.”
The surpassing of the 10% threshold by wind and solar power in global electricity generation in 2021 is a resounding victory for humanity. It is a demonstration of human progress.
Source: Masterson, Victoria. World Economic Forum."Wind and solar generated 10% of global electricity in 2021 - a world first". https://www.weforum.org/agenda/2022/04/wind-solar-electricity-global-energy/. April 8, 2022. [Accessed: April 9, 2022].
Edited by Manan Chordia
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