Post: 2023 sees record global energy consumption

2023 sees record global energy consumption

Global energy consumption is surging with the use of oil and coal reaching record levels along with their emissions.

According to the latest Statistical Review of World Energy, published on 20 June, global energy production and consumption reached record highs, with total primary energy consumption rising by 2% from 2022 and exceeding pre-Covid levels by over 5%. At the same time, global consumption of fossil fuels also reached a record high, up 1.5%. Combined they represented 81.5% of the world’s energy mix, a slight reduction from 2022’s 82%.

Consumption of coal was up 1.6% in 2023, while oil was up 2%, topping 100 million barrels for the first time. Gas demand remained flat Emissions from all this fossil fuel use increased by 2%, exceeding 40 gigatons of CO2 for the first time.

Electricity generation rose by 2.5%, with renewables contributing 30% of the total. Renewable generation, excluding hydro, was up 13% to a record high of 4,748TWh. Renewable energy sources grew six times faster than primary energy consumption, accounting for 14.6% of the total energy mix. As a share of primary energy use, renewables (excluding hydro) were at 8%, or 15% including hydro.

This growth was driven by increasingly competitive wind and solar energy, and accounted for 74% of all net additional electricity generated. The share of nuclear power remained steady, while grid-scale battery storage capacity saw significant growth. In 2023, grid-scale battery electricity storage system (BESS) capacity stood at 56GW.

Global electricity

Source: Statistical Review of World Energy