Infographic: The Global Transition to Green Energy
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Visualizing the Global Transition to Green Energy

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Green Energy transition

Visualizing The Global Transition to Green Energy

A fully green future could be closer than you think. With each passing year, the steadily declining price of renewable energy makes it increasingly competitive against fossil fuels.

Today’s infographic from Raconteur breaks down the material shift towards renewable energy, and where in the world it’s taking place.

Time to go green

A recent United Nations report estimates that renewables must make up 70% to 85% of electricity by 2050 to combat the dire effects of climate change.

The good news? Embracing renewable energy is becoming easier on the wallet. Most renewable energy sources are becoming cheaper and quicker to produce, and it’s speeding up widespread adoption.

Cost of electricity per energy source ($ per KWh)20102017
Concentrating solar power$0.33$0.22
Offshore wind$0.17$0.14
Solar photovoltaic$0.36$0.10
Biomass$0.07$0.07
Geothermal$0.05$0.07
Onshore wind$0.08$0.06
Hydro$0.04$0.05

The price of solar photovoltaic cells are projected to dip dramatically over this seven-year period, as solar panel infrastructure moves away from being an experimental technology, and into a trusted energy source easily replicated at scale. Solar also received the most new investment by energy type in 2017, up 18% from the previous year.

Of course, it won’t happen overnight. Even as the world continues to electrify, coal will still make up almost one-third of the world’s energy mix in 2040, while renewables will only be at 25%.

Nevertheless, concentrated efforts to curb our reliance on coal are signals that the fossil fuel is on its way out, and new investment in green energy sources is on the rise in most regions.

The Renewables Race

Itโ€™s perhaps not surprising that China is leading the change in renewable growth. The nation tops the list of spenders, spending more on green energy than the United States and Europe combined.

New Investment by Region2016 ($ billion)2017 ($ billion)% Change
China$96.9$126.631%
Europe$64.1$40.9-36%
United States$43.1$40.5-6%
Other Asia and Oceania$35.7$31.4-12%
Other Americas$6$13.4124%
Middle East & Africa$9$10.111%
India$13.7$10.9-20%
Brazil$5.6$68%
Total$274$279.82%

In places where a consistent and reliable source of energy is hard to come by, people are looking to clean energy as a way to leapfrog ahead of using the carbon-intensive electricity grid entirely.

Take Ethiopia for example: the $4 billion Grand Ethiopian Renaissance Dam (GERD) project along the Nile River will help meet the areaโ€™s rising energy demands. Once completed, it will be the largest dam on the continent and generate around 6,450 MW of power.

This trifecta of innovation, investment, and falling costs could be the answer to bolstering renewable energy infrastructure for decades to come – and it will be interesting to see the ultimate pace at which green energy supply comes online, and what that means for the world.

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Mapped: Solar Power by Country in 2021

In 2020, solar power saw its largest-ever annual capacity expansion at 127 gigawatts. Here’s a snapshot of solar power capacity by country.

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Solar Power by Country

Mapped: Solar Power by Country in 2021

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

The world is adopting renewable energy at an unprecedented pace, and solar power is the energy source leading the way.

Despite a 4.5% fall in global energy demand in 2020, renewable energy technologies showed promising progress. While the growth in renewables was strong across the board, solar power led from the front with 127 gigawatts installed in 2020, its largest-ever annual capacity expansion.

The above infographic uses data from the International Renewable Energy Agency (IRENA) to map solar power capacity by country in 2021. This includes both solar photovoltaic (PV) and concentrated solar power capacity.

The Solar Power Leaderboard

From the Americas to Oceania, countries in virtually every continent (except Antarctica) added more solar to their mix last year. Hereโ€™s a snapshot of solar power capacity by country at the beginning of 2021:

CountryInstalled capacity, megawattsWatts* per capita% of world total
China ๐Ÿ‡จ๐Ÿ‡ณ 254,35514735.6%
U.S. ๐Ÿ‡บ๐Ÿ‡ธ 75,57223110.6%
Japan ๐Ÿ‡ฏ๐Ÿ‡ต 67,0004989.4%
Germany ๐Ÿ‡ฉ๐Ÿ‡ช 53,7835937.5%
India ๐Ÿ‡ฎ๐Ÿ‡ณ 39,211325.5%
Italy ๐Ÿ‡ฎ๐Ÿ‡น 21,6003453.0%
Australia ๐Ÿ‡ฆ๐Ÿ‡บ 17,6276372.5%
Vietnam ๐Ÿ‡ป๐Ÿ‡ณ 16,504602.3%
South Korea ๐Ÿ‡ฐ๐Ÿ‡ท 14,5752172.0%
Spain ๐Ÿ‡ช๐Ÿ‡ธ 14,0891862.0%
United Kingdom ๐Ÿ‡ฌ๐Ÿ‡ง 13,5632001.9%
France ๐Ÿ‡ซ๐Ÿ‡ท 11,7331481.6%
Netherlands ๐Ÿ‡ณ๐Ÿ‡ฑ 10,2133961.4%
Brazil ๐Ÿ‡ง๐Ÿ‡ท 7,881221.1%
Turkey ๐Ÿ‡น๐Ÿ‡ท 6,668730.9%
South Africa ๐Ÿ‡ฟ๐Ÿ‡ฆ 5,990440.8%
Taiwan ๐Ÿ‡น๐Ÿ‡ผ 5,8171720.8%
Belgium ๐Ÿ‡ง๐Ÿ‡ช 5,6463940.8%
Mexico ๐Ÿ‡ฒ๐Ÿ‡ฝ 5,644350.8%
Ukraine ๐Ÿ‡บ๐Ÿ‡ฆ 5,3601140.8%
Poland ๐Ÿ‡ต๐Ÿ‡ฑ 3,936340.6%
Canada ๐Ÿ‡จ๐Ÿ‡ฆ 3,325880.5%
Greece ๐Ÿ‡ฌ๐Ÿ‡ท 3,2472580.5%
Chile ๐Ÿ‡จ๐Ÿ‡ฑ 3,2051420.4%
Switzerland ๐Ÿ‡จ๐Ÿ‡ญ 3,1182950.4%
Thailand ๐Ÿ‡น๐Ÿ‡ญ 2,988430.4%
United Arab Emirates ๐Ÿ‡ฆ๐Ÿ‡ช 2,5391850.4%
Austria ๐Ÿ‡ฆ๐Ÿ‡น 2,2201780.3%
Czech Republic ๐Ÿ‡จ๐Ÿ‡ฟ 2,0731940.3%
Hungary ๐Ÿ‡ญ๐Ÿ‡บ 1,9531310.3%
Egypt ๐Ÿ‡ช๐Ÿ‡ฌ 1,694170.2%
Malaysia ๐Ÿ‡ฒ๐Ÿ‡พ 1,493280.2%
Israel ๐Ÿ‡ฎ๐Ÿ‡ฑ 1,4391340.2%
Russia ๐Ÿ‡ท๐Ÿ‡บ 1,42870.2%
Sweden ๐Ÿ‡ธ๐Ÿ‡ช 1,417630.2%
Romania ๐Ÿ‡ท๐Ÿ‡ด 1,387710.2%
Jordan ๐Ÿ‡ฏ๐Ÿ‡ด 1,3591000.2%
Denmark ๐Ÿ‡ฉ๐Ÿ‡ฐ 1,3001860.2%
Bulgaria ๐Ÿ‡ง๐Ÿ‡ฌ 1,0731520.2%
Philippines ๐Ÿ‡ต๐Ÿ‡ญ 1,04890.1%
Portugal ๐Ÿ‡ต๐Ÿ‡น 1,025810.1%
Argentina ๐Ÿ‡ฆ๐Ÿ‡ท 764170.1%
Pakistan ๐Ÿ‡ต๐Ÿ‡ฐ 73760.1%
Morocco ๐Ÿ‡ฒ๐Ÿ‡ฆ 73460.1%
Slovakia ๐Ÿ‡ธ๐Ÿ‡ฐ 593870.1%
Honduras ๐Ÿ‡ญ๐Ÿ‡ณ 514530.1%
Algeria ๐Ÿ‡ฉ๐Ÿ‡ฟ 448100.1%
El Salvador ๐Ÿ‡ธ๐Ÿ‡ป 429660.1%
Iran ๐Ÿ‡ฎ๐Ÿ‡ท 41450.1%
Saudi Arabia ๐Ÿ‡ธ๐Ÿ‡ฆ 409120.1%
Finland ๐Ÿ‡ซ๐Ÿ‡ฎ 391390.1%
Dominican Republic ๐Ÿ‡ฉ๐Ÿ‡ด 370340.1%
Peru ๐Ÿ‡ต๐Ÿ‡ช 331100.05%
Singapore ๐Ÿ‡ธ๐Ÿ‡ฌ 329450.05%
Bangladesh ๐Ÿ‡ง๐Ÿ‡ฉ 30120.04%
Slovenia ๐Ÿ‡ธ๐Ÿ‡ฎ 2671280.04%
Uruguay ๐Ÿ‡บ๐Ÿ‡พ 256740.04%
Yemen ๐Ÿ‡พ๐Ÿ‡ช 25380.04%
Iraq ๐Ÿ‡ฎ๐Ÿ‡ถ 21650.03%
Cambodia ๐Ÿ‡ฐ๐Ÿ‡ญ 208120.03%
Cyprus ๐Ÿ‡จ๐Ÿ‡พ 2001470.03%
Panama ๐Ÿ‡ต๐Ÿ‡ฆ 198460.03%
Luxembourg ๐Ÿ‡ฑ๐Ÿ‡บ 1952440.03%
Malta ๐Ÿ‡ฒ๐Ÿ‡น 1843120.03%
Indonesia ๐Ÿ‡ฎ๐Ÿ‡ฉ 17210.02%
Cuba ๐Ÿ‡จ๐Ÿ‡บ 163140.02%
Belarus ๐Ÿ‡ง๐Ÿ‡พ 159170.02%
Senegal ๐Ÿ‡ธ๐Ÿ‡ณ 15580.02%
Norway ๐Ÿ‡ณ๐Ÿ‡ด 152170.02%
Lithuania ๐Ÿ‡ฑ๐Ÿ‡น 148370.02%
Namibia ๐Ÿ‡ณ๐Ÿ‡ฆ 145550.02%
New Zealand ๐Ÿ‡ณ๐Ÿ‡ฟ 142290.02%
Estonia ๐Ÿ‡ช๐Ÿ‡ช 130980.02%
Bolivia ๐Ÿ‡ง๐Ÿ‡ด 120100.02%
Oman ๐Ÿ‡ด๐Ÿ‡ฒ 109210.02%
Colombia ๐Ÿ‡จ๐Ÿ‡ด 10720.01%
Kenya ๐Ÿ‡ฐ๐Ÿ‡ช 10620.01%
Guatemala ๐Ÿ‡ฌ๐Ÿ‡น10160.01%
Croatia ๐Ÿ‡ญ๐Ÿ‡ท 85170.01%
World total ๐ŸŒŽ 713,97083100.0%

*1 megawatt = 1,000,000 watts.

China is the undisputed leader in solar installations, with over 35% of global capacity. What’s more, the country is showing no signs of slowing down. It has the worldโ€™s largest wind and solar project in the pipeline, which could add another 400,000MW to its clean energy capacity.

Following China from afar is the U.S., which recently surpassed 100,000MW of solar power capacity after installing another 50,000MW in the first three months of 2021. Annual solar growth in the U.S. has averaged an impressive 42% over the last decade. Policies like the solar investment tax credit, which offers a 26% tax credit on residential and commercial solar systems, have helped propel the industry forward.

Although Australia hosts a fraction of Chinaโ€™s solar capacity, it tops the per capita rankings due to its relatively low population of 26 million people. The Australian continent receives the highest amount of solar radiation of any continent, and over 30% of Australian households now have rooftop solar PV systems.

China: The Solar Champion

In 2020, President Xi Jinping stated that China aims to be carbon neutral by 2060, and the country is taking steps to get there.

China is a leader in the solar industry, and it seems to have cracked the code for the entire solar supply chain. In 2019, Chinese firms produced 66% of the worldโ€™s polysilicon, the initial building block of silicon-based photovoltaic (PV) panels. Furthermore, more than three-quarters of solar cells came from China, along with 72% of the worldโ€™s PV panels.

With that said, itโ€™s no surprise that 5 of the worldโ€™s 10 largest solar parks are in China, and it will likely continue to build more as it transitions to carbon neutrality.

Whatโ€™s Driving the Rush for Solar Power?

The energy transition is a major factor in the rise of renewables, but solarโ€™s growth is partly due to how cheap it has become over time. Solar energy costs have fallen exponentially over the last decade, and itโ€™s now the cheapest source of new energy generation.

Since 2010, the cost of solar power has seen a 85% decrease, down from $0.28 to $0.04 per kWh. According to MIT researchers, economies of scale have been the single-largest factor in continuing the cost decline for the last decade. In other words, as the world installed and made more solar panels, production became cheaper and more efficient.

This year, solar costs are rising due to supply chain issues, but the rise is likely to be temporary as bottlenecks resolve.

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Visualizing the Race for EV Dominance

Tesla was the first automaker to hit a $1 trillion market cap, but other electric car companies have plans to unseat the dominant EV maker.

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Electric Car Companies: Eating Tesla’s Dust

This was originally posted on Elements. Sign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week.

Tesla has reigned supreme among electric car companies, ever since it first released the Roadster back in 2008.

The California-based company headed by Elon Musk ended 2020 with 23% of the EV market and recently became the first automaker to hit a $1 trillion market capitalization. However, competitors like Volkswagen hope to accelerate their own EV efforts to unseat Muskโ€™s company as the dominant manufacturer.

This graphic based on data from EV Volumes compares Tesla and other top carmakers’ positions todayโ€”from an all-electric perspectiveโ€”and gives market share projections for 2025.

Auto Majors Playing Catch-up

According to Wood Mackenzie, Volkswagen will become the largest manufacturer of EVs before 2030. In order to achieve this, the worldโ€™s second-biggest carmaker is in talks with suppliers to secure direct access to the raw materials for batteries.

It also plans to build six battery factories in Europe by 2030 and to invest globally in charging stations.ย Still, according to EV Volumes projections, by 2025 the German company is forecasted to have only 12% of the market versus Tesla’s 21%.

CompanySales 2020 Sales 2025 (projections)Market cap (Oct '21, USD)
Tesla499,0002,800,000$1,023B
Volkswagen Group230,0001,500,000$170B
BYD136,000377,000$113B
SGMW (GM, Wulling Motors, SAIC)211,0001,100,000$89B
BMW48,000455,000$67B
Daimler (Mercedes-Benz)55,000483,000$103B
Renault-Nissan-Mitsubishi191,000606,000$39B
Geely40,000382,000$34B
Hyundai -Kia145,000750,000$112B
Stellantis82,000931,000$63B
Toyota 11,000382,000$240B
Ford 1,400282,000$63B

Other auto giants are following the same track towards EV adoption.

GM, the largest U.S. automaker, wants to stop selling fuel-burning cars by 2035. The company is making a big push into pure electric vehicles, with more than 30 new models expected by 2025.

Meanwhile, Ford expects 40% of its vehicles sold to be electric by the year 2030. The American carmaker has laid out plans to invest tens of billions of dollars in electric and autonomous vehicle efforts in the coming years.

Tesla’s Brand: A Secret Weapon

When it comes to electric car company brand awareness in the marketplace, Tesla still surpasses all others. In fact, more than one-fourth of shoppers who are considering an EV said Tesla is their top choice.

โ€œTheyโ€™ve done a wonderful job at presenting themselves as the innovative leader of electric vehicles and therefore, this is translating high awareness among consumers…โ€

โ€”Rachelle Petusky, Research at Cox Automotive Mobility Group

Tesla recently surpassed Audi as the fourth-largest luxury car brand in the United States in 2020. It is now just behind BMW, Lexus, and Mercedes-Benz.

The Dominance of Electric Car Companies by 2040

BloombergNEF expects annual passenger EV sales to reach 13 million in 2025, 28 million in 2030, and 48 million by 2040, outselling gasoline and diesel models (42 million).

As the EV market continues to grow globally, competitors hope to take a run at Tesla’s leadโ€”or at least stay in the race.

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