In a shift within the renewable energy sector, recent statistics reveal a changing of the guard as solar power surges ahead, leaving hydropower trailing behind. The International Renewable Energy Agency (IRENA) has published its 2024 Compendium of Statistics on Renewable Energy Generating Capacities, underscoring the ascendance of solar photovoltaics as the new frontrunner in the global renewable energy landscape.
As per the latest data, solar photovoltaics now command a leading position, constituting 37% of the total global renewable energy capacity. This marks a pivotal moment as hydropower, which held sway throughout much of the past century, cedes its dominance.
The transition occurred a year earlier than anticipated, driven by a record-setting 2023, during which 473 gigawatts (GW) of renewable energy capacity were installed worldwide. This surge propelled the total global renewable energy capacity to 3,870 GW, with renewables accounting for 86% of new electric power capacities commissioned in 2023.
However, this growth is not uniform across all regions. Disparities persist, with China alone introducing 297 GW of renewable energy capacity in the past year, while the entirety of African nations combined only added 2.7 GW.
Eugene Simonov, the international coordinator of the environmental coalition "Rivers without Boundaries," highlights the consequences of such disparities, attributing them not only to economic challenges but also to inadequate planning and management of national energy systems. He emphasizes the need for diversified energy strategies aligned with sustainable development goals.
“This gap is explained not only by the poverty of developing countries but also by imperfect planning and management of national energy systems, leading to chronic underdevelopment,” Eugene Simonov shared.
Simonov points to examples like Kyrgyzstan and Tajikistan, where ambitious hydroelectric projects have been proposed despite concerns over their economic viability and environmental impact. Both countries already heavily rely on Soviet-era hydroelectric plants for the majority of their electricity, yet grapple with seasonal energy shortages exacerbated by climate change-induced fluctuations in river flows.
For instance, Kyrgyzstan's leadership recently advocated for taking on a national debt exceeding $15bn, surpassing the country's entire GDP, to fund the construction of the expansive Kambarata hydroelectric power station-1 and a series of hydroelectric power stations along major rivers in the nation.
Similarly, Tajikistan's endeavor to build the Rogun hydroelectric power station spanned over fifty years, evolving into a symbol of national identity, despite the project's costs surpassing the country's GDP. Both countries already rely heavily on aging Soviet-era hydroelectric plants for 80-90% of their electricity, yet struggle with seasonal energy shortages exacerbated by erratic river flows, a trend exacerbated by climate change.
Alexander Kolotov, regional director of "Rivers without Boundaries," advocates for a departure from reliance on traditional hydropower in favor of embracing more cost-effective and environmentally sustainable alternatives such as solar and wind energy. He underscores the declining competitiveness of new hydropower installations compared to their renewable counterparts, citing factors such as cost, construction time, and social and environmental implications.
The latest IRENA statistics paint a stark picture of hydropower's dwindling significance, with only 7 GW of new hydroelectric capacity commissioned globally in 2023, representing a mere 1.5% of the total increase in renewable energy capacity. This downward trend signals a gradual fade-out of hydropower from the global energy stage, with annual commissioning rates plummeting since 2014, particularly in China, the world's foremost builder of hydroelectric plants.
The environmental coalition "Rivers without Boundaries" is an international network of non-governmental organizations and experts dedicated to protecting transboundary rivers and promoting best practices in river basin management. Established in 2009 and formally registered in Ulaanbaatar in 2011, the coalition expanded its reach with the establishment of the public foundation "Shekarasyz" in 2023, focusing on Central Asian countries from its base in Almaty, Kazakhstan.
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