New Energy Plans Around The World

These regions produce a lot of carbon emissions - here’s what they plan to do about it

Stefan Ellerbeck, Aug 26, 2022 (World Economic Forum)

Around a third of global electricity production capacity currently comes from low carbon sources, with 26% from renewables and around 10% from nuclear power. The remaining two-thirds come from greenhouse-gas emitting fossil fuels such as coal, gas and oil. Renewable energy sources like solar, wind and hydropower need to become a much bigger part of the global energy mix…Concerted action from the biggest emitting countries and blocs such as the US, China and the European Union (EU) will be crucial…

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…[China] is set to install a record 156 gigawatts (GW) of wind turbines and solar panels by the end of 2022. This represents a 25% jump from the previous record set in 2021… China added around 35 gigawatts of wind and solar capacity in the first half of 2022…President Xi Jinping has pledged to ensure emissions peak before 2030 and China achieves net-zero carbon neutrality by 2060…The EU was the second largest market after China in terms of increased renewable energy capacity,..[To end dependence on Russian energy supplies before 2030, the EU will spend] around $200 billion between now and 2027 to speed up renewable energy generation...

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…[The EU] aims to bring online more than 320GW of newly installed solar power by 2025, over twice the current level, and increase it to almost 600GW by 2030…The IEA says renewable capacity is expected to increase globally by 8% in 2022, with solar power accounting for 60% of this rise…[G]lobal offshore wind power will double in 2022 compared to 2020, with China predicted to have the world’s largest capacity by the end of this year…But to reach net-zero emissions by 2050, annual clean energy investment globally will need to triple by 2030 to around $4 trillion…[and global] industries remain behind on targets…” click here for more

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