2022: Clean Power Turning Point
April 17, 2023
Wind and solar reached a record 12% of global electricity in 2022, and investment in low-carbon energy technology surpassed $1 trillion—matching the investment in fossil fuels for the first time. A good sign, but investment must triple by the end of this decade to put the world on track for 1.5C according to energy thinktank Ember.
Ember's fourth annual Global Electricity Review revealed that solar generation grew by 24% in 2022, the fastest-growing electricity source for 18 years straight. The growth in wind and solar generation (+557 TWh) met 80% of global electricity demand growth in 2022 (+694 TWh).
2023 could see the first year, outside of a recession, that clean power growth would exceed electricity demand growth, meaning 2022 could have hit "peak" emissions.
The Ember report analyzes annual power generation and import data for 215 countries from 2000 to 2021, with 2022 data included for 78 countries representing 93% of global power demand.
Global Electricity Review 2023 | Ember (ember-climate.org)