Renewables will lead global electricity generation growth

 About 85% of additional electricity demand through 2026 is set to come from developing economies, with China contributing substantially even as the country’s economy undergoes structural changes. 

Challenges of the economy decarbonization for countries with various GDP and carbon intensity

 The countries with significant CO2 emissions are mapped on diagram below depending on their GDP per capita and carbon intensity per unit of GDP.

• Wealthy economies with low emissions per unit of GDP (U.S., Japan, EU countries)  will be able to decarbonize comparatively quickly enough to meet their aggressive stated Net Zero timelines.

Heat pumps will play crucial role in CO2 reduction in buildings

According to International Energy Agency (IEA), heat pumps may reduce global hashtagCO2 emissions by 500 Mt by 2030 , or around 40% of total direct and indirect emissions reductions in space and water hashtagheating in buildings.

Battery EV is much more efficient than hydrogen fuel cell car

 Battery EV is  3.3 times more efficient comparing with hydrogen fuel cell vehicle and 5.6 times more efficient than conventional internal combustion vehicles  if hashtag renewable electricity is primary energy source.

UNFCCC's COP 28: main outcomes and failures

 The 28th  conference under the United Nations Framework Convention on Climate Change (UNFCCC) came at a critical moment in time, with 2023 set to be the warmest year on record and the impacts of climate change rapidly accelerating. International climate change negotiations at the COP28 conference in Dubai concluded on 13 December 2023.

Below are the main outcomes and failures of the COP 28:

Over 97% of recent car sales in Norway are electric and hybrid vehicles

Plugin EVs reached a record 87% share of auto market in September, PHEVs (plugin hybrids) are adding another 6.0%, and the share of hybrid vehicles is 4.3%.

EU countries lead the way to decarbonization and decoupling of economic growth and carbon emissions

 Czech Republic, Finland, Germany, Netherlands, and Sweden are among those EU countries who achieved the success in growing their economies and, at the same time, reducing CO2 emissions during last 30 years.

Solar and Wind Power Experienced Impressive Cost Reduction between 2010 and 2022

The global weighted-average Levelized Cost of Electricity (LCOE) of newly commissioned utility-scale solar PV projects declined from USD  0.445/kWh to USD 0.049/kWh between 2010 and 2022 – a decrease of 89%. 

At the same time the cost of electricity generated by power plants burning fossil fuels stayed in the range USD  0.080/kWh to USD 0.240/kWh. 

 

Source: IRENA, 2022

The Government of Canada announced about phasing out inefficient fossil fuel subsidies

 

The Government of Canada will not provide fossil fuel subsidies unless they meet one or more of the following criteria:

- Enable significant net GHG emissions reductions in Canada or internationally in alignment with Article 6 of the Paris Agreement.

- Support clean energy, clean technology, or renewable energy.

IPCC about potential climate change adaptation and mitigation options

In its Sixth Assessment Report (AR6), IPCC integrates the contributions and findings of the three Working Groups. Compared with previous IPCC assessments, there is a greater focus on problem solutions, more regional information, and more integration across Working Groups. IPCC's AR6 states that world needs fast transitions across all sectors and systems to achieve deep and sustained emissions reductions and secure sustainable future for all.