Energy Markets Have an Interesting Year Ahead
Coal’s future is looking pretty bleak, while wind and solar power continue to make steady strides around the globe.
Bright and breezy.
Photographer: Eddie Seal/Bloomberg
The start of a new year brings with it a raft of data on the world’s energy systems. So far, electricity sector figures show a transition well underway — some sources increasing, others collapsing. Each market is different, but the trends in markets as diverse as the U.K., Spain, Australia and Texas all show profound changes in what is a very short period of time.
Coal has nearly vanished in the U.K.: Figures from National Grid Plc show that coal-fired power made up just 2.1% of the power mix last year — down from 75% in 1990. Coal was the single-biggest generation type just six years ago; now, it is smaller than what analysis group Carbon Brief classifies as “other.” Gas is now by far the largest source of power generation in the U.K., followed by wind power, which surpassed nuclear last year.