By Paul Homewood
The IEA has released its latest Electricity Market Report:
https://www.iea.org/reports/Electricality-market-report-january-2022
Here is the important part:
Fossil fuel production increased by 950 TWh last year, while renewables increased by 463 TWh.
Part of the increase has to do with a demand recovery from pandemic levels in 2020, but it is clear that renewables will continue to struggle to meet increased demand in the years to come, don’t be afraid to catch up. fossil fuel replacement.
My view is that the IEA is extremely optimistic even with that assumption, as we know that coal is still covering most of the extra demand in China and India. In the extreme case, Europe and the US are unlikely to make up for this.
While Fatih Birol whistled in the dark, the fine words at COP26 hit the wall of reality.
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