In 2021, wind and solar accounted for more than 10% of global electricity generation

According to Bloomberg New Energy Finance, in 2021, the combined global wind and solar energy projects met more than
one-tenth of the world's electricity demand for the first time.
Meanwhile, overall electricity demand, coal plant production and emissions all soared
in 2021 as the global economy regained its footing after the Covid-19 pandemic.

The new peak in coal power generation is a troubling sign
for the economy, health and the fight against climate change.
In its annual Power Transition Trends report, the agency found that wind and solar generated nearly 3,000 terawatt hours, accounting for 10.
5%
of global electricity generation in 2021.
Wind's contribution to the global total rose to 6.
8%, while solar climbed to 3.
7%.

A decade ago, these two technologies together accounted for less than 1%
of total electricity generation.

In 2021, 39% of all electricity produced globally was carbon-free
.
Hydropower and nuclear power projects meet more than
a quarter of the world's electricity needs.

Since 2017, wind and solar have accounted for the majority of new generation added to the
global grid every year.
In 2021, zero-carbon power generation, including hydropower and nuclear power, accounted for 85%
of new installed capacity.
"Renewables are now the default choice for most countries looking to increase or even replace generation capacity," said Luiza Demoro, the agency's head of energy transition, "which is no longer due to mandates or subsidies, but simply because these technologies are generally more cost-competitive
.
" ”

Solar continued to expand at a particularly violent pace in 2021, both in terms of new capacity additions and new markets
.
Solar energy is half of the new capacity added globally, at 182 GW
.
Its contribution to the global grid exceeded 1,000 terawatt hours
for the first time.
Of all the countries tracking BNEF to increase capacity, at least 112 have installed at least 1 MW of installed solar capacity
.

Despite the incredible progress made in renewable energy, the report clearly paints a clear picture of the enormous work
that power systems need to do to address their role in climate change.
As the global economy recovers from the Covid-19 pandemic, electricity demand is up 5.
6% year-on-year, putting new pressure
on existing infrastructure and fossil fuel supply chains.

Lower-than-expected hydroelectric plant production and rising natural gas prices have also helped regain the focus
of coal-fired power generation.
From 2020 to 2021, coal-fired power plant production hit a record, increasing by 8.
5% (a net increase of 750 TWh) to 9,600 TWh
.

At the same time, countries continued to complete the construction of new coal plants in 2021, with coal still accounting for the largest share of global capacity at 27%.

However, the pace of new coal integration to the grid is slowing
.
Only 13 GW of new coal-fired capacity was completed in 2021, down from 31 GW in 2020 and 83 GW
in 2012.