According to a survey, the expansion of renewable energy did not threaten fossil fuel dominance in 2022.
According to a recent report, despite enormous increases in wind and solar capacity, renewable energy was unable to challenge fossil fuel dominance in 2022.
According to the Statistical Review of World Energy report released on Monday, the world’s energy consumption increased 1% in 2017; oil and gas generation accounted for 82% of all energy supply.
This is in spite of a staggering 266 gigawatt rise in renewable energy capacity.
According to Juliet Davenport, head of the UK-based worldwide industry group Energy Institute, “despite further strong growth in wind and solar in the power sector, overall global energy-related greenhouse gas emissions increased again.”
“We are still heading in the opposite direction to that required by the Paris Agreement.”
Which fossil fuels dominated energy supply in 2022?
Due to the uncertainty in the energy markets caused by Russia’s invasion of Ukraine, gas and coal prices in Europe and Asia reached all-time highs last year.
But despite the commotion, demand for energy rose. Despite a slower growth rate than the previous year’s 5.5 percent, the world’s primary energy demand in 2019 was still about 3 percent higher than pre-coronavirus levels.
Oil, gas, and coal products have maintained their dominance in meeting the majority of global energy demand.
7.5% of all energy consumed worldwide came from renewable sources, excluding hydropower, a little increase of 1% from the year before.
A total of 97.3 million barrels per day were consumed of oil during this time. With oil consumption down 0.7 percent from pre-COVID levels, the overall trend was, nevertheless, marginally downward.
The Energy Institute, in partnership with the consulting firms KPMG and Kearny, took over the production of the annual report from BP, who had been producing it since the 1950s. This publication was a first for the industry.
What does fossil fuel growth mean for the climate?
The environment is seriously threatened by our prolonged reliance on fossil fuels.
According to scientists, if the world is to have any chance of achieving the international Paris Agreement objective of keeping temperatures well below 2C above pre-industrial levels, greenhouse gas emissions must be reduced by approximately 43 percent from 2019 levels by 2030.
The primary contributor to global warming is the exploitation and use of fossil fuels.
Society must quickly decarbonize if we want to keep temperature increases brought on by climate change below 2 degrees Celsius.
But subsidies for oil and “natural gas” (also known as fossil gas) skyrocketed last year. The greatest amount ever recorded was more than €900 billion paid by governments on fossil fuel subsidies in 2022.
