Global Electricity Mid-Year Insights 2022
Global electricity demand growth was met entirely by renewable power in the first half of 2022, halting the rise in fossil fuels.
It analyses electricity data from 75 countries representing 90% of global electricity demand and includes projections for changes in the remaining countries. It compares the first six months of 2022 (H1-2022) to the same period in 2021 (H1-2021) to show how the electricity transition has progressed.
Renewables met all growth in global electricity demand
Global electricity demand rose 3% in the first half of 2022 compared to the same period last year; this was in line with the historic average. Wind and solar met 77% of this demand growth, and hydro more than met the remainder. In China, the rise in wind and solar generation met 92% of its electricity demand rise; in the US it was 81%, while in India it was 23%.
Coal and gas generation remained almost unchanged
Because renewables growth met all the demand growth, fossil generation was almost unchanged. Coal declined by 1% and gas declined by 0.05%; these were offset by a slight rise in oil. Consequently, global CO2 power sector emissions were unchanged, despite the rise in electricity demand. Coal in the EU rose 15% only to cover a temporary shortfall in nuclear and hydro generation. Coal in India rose 10% because of a sharp rebound in electricity demand from the lows early last year when the Covid-19 pandemic struck hardest. These rises were offset against falls of 3% in China and 7% in the US.
Wind and solar growth delivered tangible cost and climate benefits
The growth in wind and solar in the first half of 2022 prevented a 4% increase in fossil generation. This avoided $40 billion USD in fuel costs and 230 Mt CO2 in emissions. In China, the growth in wind and solar enabled fossil fuel power to fall 3%, rather than rise by 1%. In India, it slowed down the rise in fossil fuel power from 12% to 9%. In the US, it slowed down the rise in fossil fuel power from 7% to 1%. In the EU, it prevented a major rise in fossil fuel power – without wind and solar, fossil generation would have risen by 16% instead of 6%.
Source: EMBER
