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Facts: Power Generation
Approximately 28,500 TWh of electricity was generated globally in 2021,
62% of which was powered by fossil fuels.
Source: BP Statistical Review, 2022
Half of the world's electricity is generated in only three countries:
China, the U.S.A., and India.
Source: BP Statistical Review, 2022
Comparing the consumption of electricity in Asia's most populated nations: China, India, and Indonesia show that the average Chinese consumes less than half as much electricity as the average American, while the average Indian and the average Indonesian consume only 10% of the amount of electricity consumed by Americans.
Currently, there is a major electrification drive in India and Indonesia - where coal is the most abundant energy source. Many of these new generations are fueled by coal for Energy Security
Scenario:
If the average Chinese, Indian, and Indonesian were to consume one-half of electricity per year compared with the average American,
world generation will increase by 10 TWh - or one-third of the current generation.
Blue: current capacity
Brown: capacity if per capita = 1/2 of USA
Source: BP Statistical Review, 2022
And CO2 emissions would increase by 10 billion tons.
Even if only a portion of this scenario materializes, the world will be far from the stated objective of limiting global warming to 1.5 degrees Celsius.
It is in our interest to limit this scenario, and motivate carbon emissions reduction not only through international agreements but also through financial incentives.
Reducing carbon emissions will be quickly achieved if major emitters gain financially
it is clear that power generation stands to increase significantly in the most populated Asian nations, where much of the new capacity will be fueled by coal for
energy independence considerations
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