The Energy Matrix of 2022: A Global Overview

The Energy Matrix of 2022: A Global Overview

Global energy trends and their implications.


In 2022, the world generated a staggering 29,165.2 terawatt hours (TWh) of electricity, a 2.3% increase from the previous year. This statistic, derived from the most recent Statistical Review of World Energy, triggers an intriguing question: what powered the world in 2022?

Coal's Dominance: A Double-Edged Sword

Despite the growing awareness about its environmental impact, coal remained the dominant force in global power generation in 2022, accounting for 35.4% of the total. It was followed by natural gas at 22.7% and hydroelectric power at 14.9%. Just three countries consumed three-quarters of the world’s total coal-generated electricity. China led the pack, consuming 53.3% of global coal, trailed by India at 13.6% and the U.S. at 8.9%.

The Environmental Cost of Coal

Coal combustion, used for electricity, metallurgy, and cement production, is the world’s single largest source of CO2 emissions. Disturbingly, its use in electricity generation has surged by 91.2% since 1997, the same year the first global climate agreement was inked in Kyoto, Japan.

The Ascendancy of Renewables

However, hope springs eternal with the rise of renewable energy sources. In 2022, renewables like wind, solar, and geothermal comprised 14.4% of total electricity generation, recording an impressive annual growth rate of 14.7%. In stark contrast, non-renewables eked out a meagre growth of 0.4%.

Accounting for Hydroelectric Power

The Statistical Review's authors notably exclude hydroelectric power from their renewable calculations, even though entities like the International Energy Agency categorise it as a well-established renewable technology. If we move hydroelectric into the renewable column, renewables accounted for over 29.3% of all electricity generated in 2022, boasting an annual growth rate of 7.4%.

Nuclear Energy's Challenging Year

Nuclear energy also witnessed significant shifts in 2022. Disruptions at the Zaporizhzhia nuclear power plant in Ukraine and shutdowns in France’s nuclear fleet due to corrosion found in safety injection systems of four reactors led to a global drop of 4% in nuclear energy usage. This resulted in a 22% reduction in electricity generated by nuclear energy in France, transforming the country from the world’s biggest electricity exporter to a net importer.


The Complexities of Powering the Future

Converting mechanical energy into electrical energy might seem straightforward, but the source of the mechanical energy complicates matters. Coal powered the first industrial revolution but also contributed significantly to global warming. Wind energy is clean and free but unreliable, while nuclear fission offers emission-free electricity but generates radioactive waste.

As temperature records are shattered worldwide, resolving these complexities becomes more than an academic exercise. The coming year's report could be a crucial litmus test of the world's commitment to a cleaner energy future.

Do you have further questions or require additional information about global energy trends and their implications?

We're here to help you understand the changing energy production and consumption landscape. Please feel free to reach out to the GSB Capital investment experts to discuss your requirements.

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This article was initially posted on GSB Capital

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