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EMISSIONS: Global Energy Emissions to Peak this Year: DNV

EMISSIONS
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Global CO2 emissions from the energy sector are expected to peak this year amid declining costs for solar PV and batteries, replacing some of the fossil-fuel fired power generation, a report by consultancy DNV showed, cited by Reuters. 

  • Global solar PV capacity additions surged by 80% last year to 400GW of capacity, with costs in many regions below those for coal-fired generation.
  • Battery prices fell by 14% in 2023 and are expected to continue to drop.
  • China remains the largest CO2 emitter and the largest consumer of coal. However, China’s solar PV installations last year accounted for 58% of global growth – showing a positive trend.
  • "Solar PV and batteries are driving the energy transition, growing even faster than we previously forecasted,” said Remi Eriksen, DNV's head said. 
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Global CO2 emissions from the energy sector are expected to peak this year amid declining costs for solar PV and batteries, replacing some of the fossil-fuel fired power generation, a report by consultancy DNV showed, cited by Reuters. 

  • Global solar PV capacity additions surged by 80% last year to 400GW of capacity, with costs in many regions below those for coal-fired generation.
  • Battery prices fell by 14% in 2023 and are expected to continue to drop.
  • China remains the largest CO2 emitter and the largest consumer of coal. However, China’s solar PV installations last year accounted for 58% of global growth – showing a positive trend.
  • "Solar PV and batteries are driving the energy transition, growing even faster than we previously forecasted,” said Remi Eriksen, DNV's head said.