Biomass

The Role of Biomass

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Although this report categorizes bioenergy as a renewable source, its impact on climate is largely influenced by the choice of feedstock and the methods of sourcing.
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Increasing scientific evidence suggests that, in specific cases, the combustion of bioenergy for power has the potential to contribute to climate change.
Long-Term Trends

Bioenergy generation has experienced significant growth
over the past two decades

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Over the past two decades, bioenergy generation has seen a substantial increase of 4.5 times, surging from 148 terawatt-hours (TWh) in 2000 to 672 TWh in 2022. As a result, the proportion of bioenergy in the global power generation mix has risen from less than 1% in 2000 to 2.4% in 2022. It's worth noting that there was only one year when bioenergy generation declined, which was in 2001 when production fell by 5.5 TWh (-3.7%).
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Since then, bioenergy generation has experienced an average annual growth rate of 8%. However, in 2022, the growth rate dropped significantly to 0.8%, mainly due to major producers like Brazil, the United States, and the UK reducing their bioenergy generation.
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The growth of bioenergy generation has also slowed since 2015, with a lower average annual growth rate of 4.9%. Bioenergy's share in the global power mix has increased by only 0.4 percentage points since 2015, going from 2% to 2.4% in 2022.
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Among the G20 countries, the UK has the highest share of bioenergy in its domestic power mix. In 2000, its share was a mere 1.1%, but by 2015, it had risen to 8.5%. Although the increase has slowed, the UK's share of bioenergy reached 11% in 2022. Brazil and Germany have similar shares, consistently maintaining a share of around 8% since 2015.

Progress Towards Net Zero

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Due to the climate risks associated with carbon-intensive feedstock, it is recommended that bioenergy plays a restricted role in the transition to clean electricity.
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According to the IEA Net Zero Emissions scenario, bioenergy generation is projected to constitute only 4% of global electricity generation by 2030. The International Panel on Climate Change suggests even stricter limitations, proposing that bioenergy be reduced to just 2% by 2040.
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However, the IEA Net Zero pathway proposes a doubling of bioenergy generation to 1,442 TWh by 2030 as part of the global phase-out of coal. To align with this pathway, the global bioenergy generation would need to increase by 7.6% annually from 2021 to 2030, in contrast to the growth rate of 4.9% observed since 2015.
Investment opportunities

Stock market prices of biomass energy companies

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