The share of renewable energy in global power generation hit 30 per cent last year after record growth in solar, but little progress has been made when it comes to decarbonizing the heat and fuel sectors, according to a research report published on Tuesday.
With heat and fuel included, renewable sources accounted for only 12.7 per cent of the world’s total energy supply, said Rana Adib, REN21′s executive director. “There are 179 countries with renewable power targets – only 46 have renewable heat targets and 49 renewable fuel targets,” she added. The low prices of fossil fuels have also held back the development of renewable heat and fuel technologies. Subsidies for fossil fuels also soared to more than $1-trillion in 2022, according to the International Energy Agency, with oil subsidies up 85 per cent.
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