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IEA - Electricity Market Report 2022

image credit: Credit: IEA
Laurent Segalen's picture
CEO Megawatt-X

Laurent is a Franco-British financier, founder of Megawatt-X, the London-based global platform for Renewable Energy Assets. For the past twenty years, Laurent has been trading and managing...

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  • Jan 14, 2022
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5 take aways from IEA Electricity Market Report 2022

(1) record growth: global electricity demand rose by 1500 TWh -its strongest growth on record;
(2) coal me back: coal served more than half of additional power demand in 2021, reaching unfortunately new historic highs;
(3) China leading the way: looking forward China will account for about half of electricity demand growth through 2021-24;
(4) renewables set to rise to 33% of global power mix by 2024: expanding at a rate of 8% per year, renewables will lead the vast majority of power supply through the medium-term;
(5) green the grids: IEA analysis shows that today's policy settings are insufficient to cut emissions, with power sector emissions stagnating through the medium-term, despite the strong growth in renewables.

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Matt Chester's picture
Matt Chester on Jan 14, 2022

green the grids: IEA analysis shows that today's policy settings are insufficient to cut emissions, with power sector emissions stagnating through the medium-term, despite the strong growth in renewables

Is this a matter of the lowest hanging fruit already being picked, or is there a hurdle actively standing in the way of greater clean energy penetration onto the grid? 

Bob Meinetz's picture
Bob Meinetz on Jan 14, 2022

Though renewables advocates are trying to spin this as an endorsement of wind and solar, it's anything but. From the report:

"While renewables are set to meet the vast majority of the increase in global electricity demand in the coming years, this trend would only result in a plateauing of emissions from electricity generation. That is insufficient for the power sector to fulfil its critical role as a leading force in the decarbonisation of economies around the world."

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