In 2023, the world used more fossil fuels than ever before. Even with significant growth in renewable energy, the world's reliance on fossil fuels like coal and oil has not changed much, leaving a number of questions on the global energy transition.

2023 Posts Record-Breaking Energy Consumption

The 73rd annual Statistical Review of World Energy by the Energy Institute (EI), KPMG, and Kearney highlights a record-breaking global primary energy consumption of 620 exajoules (EJ) in 2023, reflecting a 2% increase from the previous year.

Fossil fuels, including coal, oil, and gas, accounted for 505 EJ, marking a 1.5% rise. This increase in fossil fuel consumption led to a significant surge in energy-related emissions, which exceeded 40 gigatonnes of CO2 for the first time, representing a 2% rise.

Coal consumption increased by 1.6%, and oil usage rose by 2%, surpassing 100 million barrels per day for the first time. These figures reflect a persistent global dependency on fossil fuels, even as efforts to transition to cleaner energy sources intensify.

Renewable Energy Presents Silver Lining

Amid this surge in fossil fuel use, renewable energy sources, particularly wind and solar, showed remarkable growth.

Renewable electricity generation, excluding hydro, reached a record high of 4,748 terawatt-hours (TWh), up 13% from 2022. This growth was driven predominantly by wind and solar power, which accounted for 74% of the net additional electricity generated.

As a result, renewables (excluding hydro) now constitute 8% of the global primary energy mix, rising to 15% when including hydroelectric power. Despite this progress, the share of fossil fuels in the energy mix remains largely unchanged at 81.5%, down only marginally from 82% the previous year.

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Europe Fossil Fuel Consumption Falls

(Photo : Paul Brennan from Pixabay)

The Department of Transportation's (DOT) recent move to finalize the updated fuel economy standards marks another step in President Joe Biden's efforts to address climate change and promote cleaner energy practices.

The energy consumption landscape varies significantly across different regions. In Europe, the share of fossil fuels in primary energy fell below 70% for the first time since the Industrial Revolution, driven by a 7% drop in gas demand and the rapid growth of renewable energy.

Europe's gas imports from Russia plummeted to 15%, down from 45% in 2021, with liquefied natural gas (LNG) imports outpacing piped gas for the second consecutive year.

In contrast, India saw an 8% increase in fossil fuel consumption, which now accounts for 89% of its total energy use. Notably, India's coal usage surpassed that of Europe and North America combined.

Similarly, China's fossil fuel consumption rose by 6%, though its share of primary energy has been on a decline since 2011, reaching 81.6% in 2023. China also led the world in renewable energy additions, contributing 55% of all new renewable capacity, more than the rest of the world combined.

"The progress of the transition is slow, but the big picture masks diverse energy stories playing out across different geographies," EI Chief Executive Nick Wayth said in a statement.

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