Global carbon emissions caused by energy production remained steady in 2015 and posted the lowest growth in the past 25 years excluding 2009, when there was a decline in the aftermath of the economic crisis, according to research and consulting firm GlobalData. The company’s latest report states that this stall in global carbon emissions can be attributed to a slowdown in demand for power, and a shift in fuel mix from coal to low carbon fuels such as natural gas. Global installed power capacity reached 6241 Gigawatts (GW) in 2015 from just over 5000 GW in 2010, increasing at a compound annual growth rate (CAGR) of 4,3%. Currently, the global power industry is characterised by heavy dependence on thermal fuel sources for power generation, as several major power-generating countries have abundant coal reserves. Although thermal power will remain a dominant feature in the global power market for the foreseeable future, the share of thermal power in the overall installed power capacity will witness a declining long-term trend. The share of thermal power is expected to fall from its current level of 62,6% to 53,6% by 2025.
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Source: EE plublishers