Global rise in electricity demand met entirely with renewables, report finds [news - briefing

Abstract

The rise in wind and solar generation met over three-quarters of the demand growth in the first half of 2022, while hydro met the remainder, preventing a possible 4 per cent increase in fossil generation and avoiding $40bn in fuel costs and 230MtCO2 in emissions. The report analysed electricity data from 75 countries representing 90 per cent of global electricity demand. It compares the first six months of 2022 to the same period in 2021 to show how the electricity transition has progressed. Global electricity demand was found to have grown by 389 terawatt-hours (TWh) in the first half of 2022. Renewables - wind, solar and hydro - increased by 416TWh, slightly exceeding the rise in electricity demand. Wind and solar were responsible for the bulk of the rise - they grew some 300TWh between them which was equal to 77 per cent of the rise in global electricity demand. In China, the rise in wind and solar generation alone met 92 per cent of its electricity demand rise; in the US it was 81 per cent, while in India it was 23 per cent.