The world is going green in literal terms.
also stated that the overall electricity demand soared as well as coal-fired power plant generation and carbon emissions as the plans to reinvigorate the economy have been gaining momentum after the pandemic.“New spikes in coal generation are a troubling sign for the economy, our health, and the fight against climate change.
Broadly, 39 percent of all power produced worldwide in 2021 was carbon-free, while hydro and nuclear met just over a quarter of the world's electricity demand. “Renewables are now the default choice for most countries looking to add or even replace power-generating capacity,” said Luiza Demôro, head of energy transitions at BloombergNEF. “This is no longer due to mandates or subsidies, but simply because these technologies are more often the most cost-competitive.”and solar energy each year. In 2021, both technologies hit an all-time record high with three-quarters of 364 gigawatts of new capacity created.
“It was a year of highs and highs, for the best and worst reasons,” said Ethan Zindler, head of Americas at BNEF. “Renewables grew very fast, but coal’s comeback and the fact that countries – including those that have pledged to achieve net-zero emissions – continue building coal is really disconcerting.”
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