Scaling renewables
Renewables are one of the most cost-effective solutions to decarbonize power, but present challenges.
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- ~30%
- Global fossil fuel electricity emissions account for ~30% of anthropogenic GHG on a CO2-equivalent basis.
Emissions
Global greenhouse gas emissions – share of total (2019).
Background
Wind and solar have experienced significant capacity growth over the past decade (~15% and ~33% p.a., respectively), supported by subsidies and improving economics.
- ~33%
- capacity growth in solar and wind.
However, the share of fossil fuels in the energy mix has remained fairly stable at ~80% of global primary energy supply.
- ~80%
- fossil fuel in global energy supply.
Note: (1) As measured based on levelized costs of energy
Source: Climate Watch; Our Word in Data; IEA; IRENA; Lazard; Lit. scan
Current State
COP26 featured several pledges to accelerate the clean energy transition, including phasing out coal by 2040.
To achieve this goal, wind and solar capacity are expected to continue growing steadily at ~9-12% p.a. through 2030.
Solution Details
