A record expansion in renewables will see coal, oil and gas side-lined.
That’s according to analysis by think tank Ember, revealing that almost all the growth in electricity demand for 2023 is set to be from green sources.
Last year, wind and solar power reached a record 12% of global electricity generation – taking the total share of low carbon electricity to 40% of all generation, the research claims.
It states that nuclear and hydropower are the remaining answers to reaching the entire phaseout of fossil fuels – combined with wind and solar.
In 2023, the report estimates low carbon energy sources to grow by a record of 773TWh and oil and gas demand to drop.
It is labelling the drop a ‘tipping point,’ as previously demand has only declined for recessions or the pandemic.
The researchers project that fossil fuel demand could never peak 2022 demand again, expecting this declining trend to persist.