1 min read –
According to this Visual Capitalist drawing,
The electricity generated by renewable energies is about 29% of all electricity generated in the world.
Renewable means : wind, solar, hydro, biomass, geothermal.
Means about 70% of the electricity worldwide is generated by mainly Oil, Gas, Coal.
It means a global split is 70%-30%.
Some other and more recent sources show a global split closer to 68%-32% (2024).
In Indonesia, the split is 80%-20%.
The attached drawing is great for a quick learn on how renewable energies work.
Take 1 min to think about this energy split.
With global growth and billions of people hungry for energy (just think of AI/data centers), it is clear that fossil fuels are not going to disappear, ever.
Only weak politicians looking for votes can tell that they will flip the split from like 75-25 to become 25-75.
Totally unrealistic and criminally counterproductive.
Instead of pushing absurd policies to look green, politicians should better support technologies that make fossil fuels cleaner and more efficient. There are many such as
carbon capture, long-duration energy storage, small modular nuclear reactors, gas flaring reduction (by bitcoin mining !), etc.
Technology is the strongest leverage in the prosperity equation.
Better technology increases TFP, the Total Factor Productivity in the Cobb-Douglas Production equation:
Wealth = TFP x Capital x Labour.
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Original article: https://elements.visualcapitalist.com/what-are-the-five-major-types-of-renewable-energy/