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Power

3.1%

Year-on-year growth in global power production in 2022

40%

Global generation from zero-carbon technologies in 2022

80%

Wind and solar's share of global power capacity additions in 2022

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Capacity by technology

Global installed power-generating capacity reached a new high of 8.3 terawatts in 2022, a more than 50% increase from a decade ago. Capacity expanded by over 5% year-on-year in 2022, with wind and solar being the fastest growing technologies and reaching a quarter of global capacity.

Capacity by region

Asia-Pacific’s total installed power-generating capacity has nearly doubled in a decade. Africa follows with the next-highest growth rate, amid a 67% jump over the same period. Europe and North America have seen the least growth since 2012 with their power matrixes expanding by just 20%. Home to some of the world’s largest fossil fuel reserves, the Middle East has a total installed capacity of 349GW, of which 93% is attributed to fossil fuels. Latin America’s power matrix is the cleanest of any region, with over two-thirds (200 GW) of their renewables capacity represented by hydro, followed by solar with 58GW, and wind accounting for around 41GW.

Generation by technology

Global renewables generation reached a new high of 8.4 terawatt-hours in 2022, with an 8% jump in power demand compared to the previous year. With nearly 3,500TWh of power produced in 2022, wind and solar accounted for a combined 13% of 2022 global generation.

Generation by region

Asia Pacific led the spike in global electricity production in 2022, with a 6% rise from 2021. Generation in Europe fell 3%, while North America, Latin America, and the Middle East saw increases of 2.6%, 3%, and 1.5%, respectively. Power demand across Africa remained roughly flat, at around 3% of global generation.

Solar capacity additions

Ten markets were responsible for 78% of all solar capacity added in 2022. Mainland China alone added 107 gigawatts, accounting for 42% of the global. Brazil, India and Vietnam are developing economies where solar has boomed in recent years.

Wind capacity additions

Wind installations are concentrated in a relatively small number of economies, the top 10 of which accounted for 85% of global capacity additions in 2022. Mainland China represented 55% of all wind built, while the US, the second-biggest market, comprised 10% of the total capacity added.

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Climatescope 2023 print report cover

Power Transition Factbook

This marks the 12th anniversary of Climatescope, BNEF’s annual assessment of energy transition opportunities. In recent years, the project has been expanded to include activity not just in clean power, but also in the decarbonization of transportation and buildings.

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