The energy transition offers numerous advantages for manufacturing industries. In addition to reducing their environmental impact, the adoption of renewable energy technologies and improved energy efficiency can also help reduce costs and enhance profitability. Here are some relevant statistics:
Hydropower: It expanded at a similar level to previous years. Two-thirds of the expansion occurred in China. Other countries where capacity increased by over 500 MW were Canada, Ethiopia, Laos, and Pakistan.
Solar Energy: Photovoltaic solar energy accounted for nearly worldwide in 2022, with an increase of 191,450 MW and a 125 MW increase in concentrated solar power. Expansion in Asia was 112 GW in 2022 (compared to 75 GW in 2021). Significant capacity increases were seen in China (+86.0 GW) and India (+13.5 GW). Japan also added 4.6 GW, slightly more than in 2021. Outside of Asia, the United States added 17.6 GW of solar capacity in 2022, Brazil added 9.9 GW, and the Netherlands and Germany added 7.7 GW and 7.2 GW respectively.
Wind Energy:With an increase of 75 GW in 2022, wind energy growth remained slower compared to the previous two years. China accounted for almost half of this expansion (37 GW), and capacity in the United States increased by 7.8 GW. Most of the remaining capacity expansion occurred in Brazil and a handful of European countries. Offshore wind continued to represent around 7% of total capacity.
Bioenergy: Expansion slightly slowed in 2022 (+7.6 GW compared to +8.1 GW in 2021). Bioenergy capacity in China increased by 4.3 GW, and other countries with significant increases were Brazil (+854 MW), Indonesia (+735 MW), and Japan (+885 MW).
Geothermal Energy: It saw very little increase in 2022, with most of this expansion occurring in Kenya (+86 MW), Indonesia (+57 MW), and the United States (+56 MW).
The energy transition in the global electricity sector is in full swing, driven by the need to combat climate change. Renewable energies, especially solar and wind energy, are experiencing unprecedented growth, while coal and gas-fired power plants are being phased out of the energy system. Additionally, the cost of renewable energy is decreasing, making it more economically attractive and stimulating its adoption worldwide.
The following blog explains “How Energy Transition Reduces Costs and Increases Business Resilience”
SOURCES OF CONSULTED INFORMATION
(1) Website of IRENA – Renewable Capacity Statistics 2023 https://www.irena.org/Publications/2023/Mar/Renewable-capacity-statistics-2023
