U.S. power producers have increased their electricity output from natural gas more than from clean power sources in the first eight months of 2023, as low wind speeds and high demand for air conditioners affected clean power generation; however, overall generation from coal decreased by 21%, demonstrating ongoing efforts to reduce pollution.
India has increased its use of coal for electricity generation amid lower hydroelectricity output and record power demand, resulting in coal's share in power output rising to the highest level in six years.
U.S. natural gas production reached a new high in 2022, surpassing Russia and Iran, while consumption increased due to a shift away from coal and growth in renewable energy.
The Group of 20 nations, including China, India, and Australia, have seen a 7% increase in per capita emissions from coal-fired power since 2015, with Australia's CO2 count per head nearly three times higher than the global average, according to research by environment group Ember.
In 2022, coal remained the dominant source of electricity generation, accounting for 35.4% of global power, followed by natural gas and hydroelectricity, while renewables experienced significant growth with wind, solar, and geothermal representing 14.4% of total electricity generation, and nuclear energy faced a decline due to various disruptions.
Demand for coal, natural gas, and oil is expected to peak in the near future, even without new climate policies, as a result of the shift towards renewable energy and electric vehicles, according to the International Energy Agency.
Demand for fossil fuels is expected to reach an all-time high before 2030, despite progress in the fight against climate change, according to Fatih Birol, Executive Director of the International Energy Agency.
The global coal industry may lose nearly 1 million jobs by 2050, primarily in China and India, due to mine closures and the transition to cleaner energy sources, warns a report by the Global Energy Monitor.
Australia, the second-largest coal exporter in the world, is facing challenges in transitioning to clean power generation as it struggles to replace its aging coal plants with enough renewable energy sources, leading state governments to step in and prop up the ailing coal industry in order to avoid blackouts.
China has imported a record amount of coal this year due to a spike in electricity demand caused by increased air conditioning usage and a decrease in hydropower generation, with imports expected to reach 470m metric tonnes in 2023, a 60% surge from 2022.
The International Energy Agency predicts that global demand for oil, natural gas, and coal will peak by 2030 due to the adoption of cleaner energy and transportation policies, leading to a sweeping transformation in the global energy landscape.
Clean energy, including solar and electric vehicles, is expected to transform the global energy system by 2030, with solar projected to generate more electricity than the entire US power system, according to the International Energy Agency (IEA)'s "World Energy Outlook 2023."
By 2030, the International Energy Agency predicts a significant increase in green transportation and electricity worldwide, with renewables accounting for half of the world's electricity mix and electric vehicles making up 10 times more of the vehicles on the road, signaling an unstoppable global transition to clean energy.