Anchor Markets Blog

The shift towards a renewable mix

Written by Josep Duran | Mar 17, 2021 7:30:00 AM

The recently released IEA (International Energy Agency) report highlights the difficulty that faces the planet in these years to come.

In the following graph we can see the change in the energy mix of the OECD last year:


Fuente: IEA. Monthly OECD Electricity Statistics. 16/03/2021

As we can see, renewable energy increased their market share, but at a slow pace, since the transformation is difficult.

At the same time, we also see that natural gas is on the rise within the energy mix, and coal is the one that falls the most.

As we already mentioned in another entry on this blog, to reach the carbon neutrality objectives, the share of renewable energies has to grow even more.

In any case, the generation of electricity through renewable sources grows in the order of 15% per year measured in gigawatt-hours, although it starts from a very low share:

 

This difference between the two graphs shows the little importance that renewable energies have in the current energy mix: despite growing around 15% per year and with coal and oil decreasing with similar figures, renewables increased only 3% within the total energy mix.

There is still a long and hard way to go, but it seems that we are on the right track. At least in OECD countries, but that's another topic for another post.