The challenges and uncertainties facing the global energy system are at their greatest for almost 50 years. bp’s Statistical Review of World Energy 2022 reveals that the growing shortages and increasing prices highlight the continuing importance of energy ‘security’ and ‘affordability’ alongside ‘lower carbon’ when addressing the energy trilemma.
The Statistical Review of World Energy analyses data on world energy markets from the prior year. The Review has been providing timely, comprehensive and objective data to the energy community since 1952. According to the report, electricity generation increased by 6.2% in 2021 – similar to the strong bounce back seen in 2010 in the aftermath of the financial crisis (6.4%). Wind and solar reached a 10.2% share of power generation in 2021, the first time wind and solar power have provided more than 10% of global power and surpassing the contribution of nuclear energy.
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