Quick Bites | What Powered the World in 2023

Global primary energy consumption reached a new record of 620 exajoules (EJ) for the second consecutive year in 2023, up from 607 exajoules in 2022. The graphic below shows the sources of energy used globally in 2023, measured in exajoules. Data is from the 2024 Statistical Review of World Energy by the Energy Institute, released in June 2024.

Despite efforts to decarbonize the economy, fossil fuels still accounted for 81% of the global energy mix in 2023. Coal was responsible for 32% of the energy consumed around the world, followed by natural gas (26%) and then oil (23%).

According to the International Energy Agency (IEA), we are on track to see all fossil fuels peak before 2030. “The momentum behind clean energy transitions is now sufficient for global demand for coal, oil, and natural gas to all reach a high point before 2030. The share of coal, oil, and natural gas in global energy supply – stuck for decades around 80% – starts to edge downwards and reaches 73% by 2030. This is an important shift. However, if demand for these fossil fuels remains at a high level, as has been the case for coal in recent years, and as is the case in the projections for oil and gas, it is far from enough to reach global climate goals.”

Although demand for fossil fuels has been strong in recent years, there are signs of a change in direction. Alongside the deployment of low-emissions alternatives, the rate at which new assets that use fossil fuels are being added to the energy system has slowed.

Sales of cars with internal combustion engines (ICE) are well below where they were before the pandemic. In the electricity sector, worldwide additions of coal and natural gas-fired power plants have halved, at least, from earlier peaks. Sales of residential gas boilers have been trending downwards and are now outnumbered by sales of heat pumps in many countries in Europe and in the United States. 

Source: Visual Capitalist