Ember Claims Renewable Energy Is Taking Market Share Away From Thermal Generation – CleanTechnica
Ember Claims Renewable Energy Is Taking Market Share Away From Thermal Generation CleanTechnica
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Renewable Energy Driving the Transition Away from Fossil Fuels
Ember, a UK-based nonprofit organization that provides renewable energy data worldwide, has released its annual global electricity report for 2024. The report highlights the progress and future prospects of clean energy. According to the report, renewables accounted for a record-breaking 30% of global electricity generation in 2023, primarily driven by solar and wind power. This growth in clean energy capacity is expected to lead to a decline in fossil fuel generation, marking a turning point in the fight against climate change.
Renewables Claiming Market Share from Fossil Fuels
The report from Ember has been celebrated by Al Jazeera, which states that renewables have been dominating the growth in electricity demand for the past five years, leaving fossil fuels stagnant. In 2024, renewables are projected to roll back fossil fuels’ market share by 2%, initiating a decade-long process of phasing out fossil fuels from electricity production in developed economies.
The expansion of renewable energy capacity has been significant, with an average annual growth rate of 3.5% over the past decade. This growth has been facilitated by the declining costs of solar panels and wind turbines, making them more accessible and efficient.
The report suggests that 2024 will be a crucial year for the renewable energy transition. The full impact of newly installed solar generation capacity will be realized, leading to a record number of installations. Ember estimates that renewable generation will add 1,221 TWh of electricity supply in 2024, more than double the amount added in the previous year. This surge in renewable energy capacity will result in a decline in fossil fuel generation for the first time.
Challenges for Thermal Generation and China’s Role
The report highlights the challenges faced by thermal generation, particularly the gas industry. While the gas industry anticipated a decline in coal generation, it is now facing competition from wind and solar power, which are replacing both coal and gas. The decline of thermal generation is crucial for achieving sustainable development goals.
China plays a significant role in the global energy transition. It is the world leader in renewable energy installation, accounting for half of the world’s solar panels and 60% of wind turbines. However, critics argue that some Chinese solar panel manufacturers rely on electricity from thermal generation, primarily coal. Nevertheless, China’s push for electrification in transport and heating sectors, as well as its dominance in solar panel manufacturing, presents an opportunity for other countries to benefit from cost-competitive and readily available solar energy.
Policy Actions by the Biden Administration
China’s state-led model of renewable energy development has raised concerns among some analysts. They argue that China’s subsidies for photovoltaic infrastructure aim to create a monopoly and eliminate competitors. The European Union and the US, major markets for Chinese photovoltaics, are both beneficiaries and victims of this state-led approach.
The Biden administration is expected to announce new tariffs on Chinese-made products, including electric vehicles. The impact on solar panels remains uncertain. The US solar panel manufacturers have expressed concerns about the influx of cheap Chinese-made panels, while others argue that embracing these products is necessary to advance climate goals.
The Need for Creative Destruction in the Fossil Fuel Industry
The latest report from Ember should be a wake-up call for fossil fuel executives. The transition to renewable energy is inevitable and necessary to prevent catastrophic climate change. The report suggests that the process of replacing thermal generation with renewables has already begun. However, the speed at which this transition occurs remains uncertain and will only be fully realized in the coming decades.
The transition to renewable energy presents both challenges and opportunities. Electrical grids may need to be upgraded to accommodate the increasing load from solar panel installations. Additionally, the shift towards renewables may disrupt the business plans of industries reliant on fossil fuels. Despite these challenges, the transition to renewable energy is essential for a sustainable future.
The Takeaway
The global electricity report from Ember highlights the progress made in renewable energy and the need for further action to phase out fossil fuels. The transition to renewable energy is driven by falling costs, increased capacity, and the urgent need to address climate change. The report emphasizes the importance of achieving the Sustainable Development Goals (SDGs) and calls for continued efforts to accelerate the transition to clean energy.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 13: Climate Action
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase substantially the share of renewable energy in the global energy mix
- SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Percentage of global electricity generated from renewable sources
- Annual growth rate of renewable energy capacity
- Reduction in fossil fuel generation in the power sector
- Installed capacity and generation from solar and wind energy
- Price decrease of solar panels
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase substantially the share of renewable energy in the global energy mix | – Percentage of global electricity generated from renewable sources – Annual growth rate of renewable energy capacity |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable | – Reduction in fossil fuel generation in the power sector – Installed capacity and generation from solar and wind energy |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies, and planning | – Reduction in power sector emissions – Price decrease of solar panels |
Copyright: Dive into this article, curated with care by SDG Investors Inc. Our advanced AI technology searches through vast amounts of data to spotlight how we are all moving forward with the Sustainable Development Goals. While we own the rights to this content, we invite you to share it to help spread knowledge and spark action on the SDGs.
Fuente: cleantechnica.com
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