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The year in energy

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Last year saw some major trends in the global energy sector. Perhaps the most dramatic was the shift to renewable power, which continued to outpace the projections of both financial analysts and industry experts.  2024 saw new highs in renewable installation, largely due to China, which accounted for more than half of all the solar power installed globally.  Huge solar installations also came online in California and Nevada during the year.  On the other hand, the amount of coal burning for the year also exceeded expert predictions, also largely due to China.

A second trend was increasing sales of electric vehicles, which reached a new high, although short of expectations.  A major driving force in EV sales is the dropping price of lithium-ion batteries, which fell by 20% in 2024.  Again, China was a major factor with roughly half of all its domestic vehicle sales being electric.

Coal’s decline is being slowed by the rising demand for electricity.  The increased use of electric heating and cooling along with the increasing use of EVs are major factors.  But the proliferation of energy-hungry data centers incorporating artificial intelligence capabilities is driving up the demand for power even more. 

Perhaps the clearest indication of the future for global energy comes from investors, who put about $2 trillion into clean energy last year.  That is twice as much as invested in oil, coal, and natural gas.

The history of energy has seen the Age of Coal and the Age of Oil.  By all indications, we are now heading into the Age of Electricity.

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The Year in Energy in Four Charts

Photo, posted November 23, 2024, courtesy of Mussi Katz via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

Renewables progress

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According to a new report by the International Energy Agency, the world is on track to produce nearly half of the electricity it uses from renewable sources by the end of this decade.  The report also finds that in nearly every country, large wind and solar plants are the cheapest forms of new power.

Between now and 2030, countries will add more than 5,500 gigawatts of new renewable capacity.   That is as much as China, India, the U.S., and the EU combined have at present.  Most of the new capacity will come from solar power.

China is aggressively pursuing renewable power installations with massive solar and wind projects.  By 2030, China will account for nearly half of the world’s renewable power capacity.

This year’s UN Climate Change Conference, held in the United Arab Emirates, established the goal of tripling renewable energy capacity worldwide by 2030. 

The growth in solar power continues to outperform industry expert projections as manufacturing ramps up.  India and the U.S. are both expected to triple their solar manufacturing capacity by the end of this decade.  Manufacturing, largely based in China, is already outstripping demand.

By 2030, solar and wind power are expected to account for about 30% of global electricity generation, hydropower about 13%, and other renewables such as geothermal power about 5%.

These estimates are based on existing policies and market conditions.  Governments could speed up the shift to clean energy by cutting red tape and by making it cheaper for poorer countries to finance solar and wind projects.

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Renewables 2024

Photo, posted November 23, 2023, courtesy of Rick Obst via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

Big Food and greenhouse gas emissions

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The global food system is responsible for as much as 40% of human-generated greenhouse gas emissions. The investor advocacy group Ceres has tracked whether the 50 largest North American food and agriculture companies have set targets to lower their emissions and whether doing so has actually resulted in lower emissions.

The emissions from food and agriculture companies are grouped into three so-called scopes.  Scope 1 are emissions from a company’s direct operations.  Scope 2 are emissions from its energy use.  Scope 3 are emissions from a company’s supply chain:  from the farmers who grow crops, raise cattle, and otherwise provide necessary items for a company’s final products.  In the food industry, the scope 3 category is responsible for about 90% of overall emissions.

Of the 50 food companies studied, 23 reduced their scope 1 and scope 2 emissions over the past 2 years, but only 12 reduced their scope 3 emissions.  Companies have more control over their scope 1 and scope 2 emissions. 

Reducing scope 3 emissions is more difficult.  And most companies haven’t set scope 3 reduction targets. 

The findings of the study suggest that reducing scope 3 emissions is especially difficult for companies whose supply chains are linked to carbon-intensive commodities, like meat, or crops linked to deforestation or land-use change, both of which result in increased emissions.

In March, the Securities and Exchange Commission finalized rules requiring companies to disclose their climate risk to regulators, increasing the visibility of the food industry emissions issue.

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North America’s Biggest Food Companies Are Struggling to Lower Their Greenhouse Gas Emissions

Photo, posted October 13, 2011, courtesy of the United Soybean Board via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio

Community Solar In New York | Earth Wise

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New York has now installed 1 GW of community solar capacity, which is more than any other state.

Community solar is a solar energy project within a geographic area for which the benefits flow to multiple customers such as individuals, businesses, nonprofits, or other groups.  For the most part, the customers benefit from energy being generated by solar panels located at an off-site array.  Customers typically buy or lease a portion of the solar panels in the array and then receive an electric bill credit for the electricity generated by their share of the community solar system.  It is a great option for people who can’t install their own solar panels because they don’t own their home, don’t have a suitable location for various reasons, or have financial constraints.

Community solar in New York now generates enough electricity to power 209,000 homes.  Community solar installations accounted for 70% of New York’s solar additions in 2021 and the state has a pipeline of 708 more projects totaling 2.3 gigawatts.

The NY-Sun program run by NYSERDA since 2011 has directed over $200 million to low-to-moderate income households as part of its Solar Energy Equity Framework. 

Growing community solar depends strongly on policy expansion.  At this point, 19 states and D.C. have established policies and programs to support community solar adoption.  The federal government set a goal of powering 5 million American homes with community solar over the next five years.  With 30% of the country’s current community solar capacity, New York is leading the way.

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New York reaches 1 GW community solar milestone

Photo, posted May 24, 2011, courtesy of Michael Mees via Flickr.

Earth Wise is a production of WAMC Northeast Public Radio.

WAMC Northeast Public Radio

WAMC/Northeast Public Radio is a regional public radio network serving parts of seven northeastern states (more...)