When solar energy swallowed 75% of the world's new electricity demand, the golden age of natural gas power generation has quietly come to an end. In 2025, natural gas power generation will account for 21.8% of the global total power generation, a fifth consecutive year of decline from 23.9% in 2020.

Even more glaring is the growth rate gap: the average annual growth rate of natural gas is only 1.6%, less than half of the 2.9% in the previous five years; The annual increment of solar energy is 636 terawatt hours, which is 17 times that of natural gas at 38 terawatt hours. In the past five years, clean energy has taken on 68% of the global electricity demand increase, and the market space for natural gas generators has been continuously compressed.

More than half of the economies have passed their peak

Among the 124 economies worldwide that use natural gas for power generation, 61 have reached their peak before 2025, accounting for one-fifth of the world's natural gas power generation. India's share decreased from 12.6% to 2.3% from 118 terawatt hours in 2010 to 49 terawatt hours; Brazil decreased from 13.7% to 7.3%; China remains stable at around 3%.

The combined electricity demand of the three countries accounts for 42% of the world's total, but natural gas is not the main source. G7 is also retreating: natural gas power generation has decreased from 2627 terawatt hours to 2577 terawatt hours, accounting for 34.3% to 32.9%, while renewable energy has reached 2544 terawatt hours, basically equaling natural gas. Britain, Germany, Italy, and Japan have been below their historical peak for five consecutive years.

The United States alone supports global growth

But the story is not one-sided. The proportion of natural gas power generation in the United States has increased from 33% to 40%, with a cumulative increase of 474 terawatt hours over the past decade, accounting for nearly one-third of the global increase. The trend of global natural gas electricity demand is still dominated by a few large markets. Keywords: natural gas power generation, new energy

The conflict between Russia-Ukraine conflict and the turmoil in West Asia have accelerated countries' efforts to get rid of imported natural gas. Local renewable energy is favored for its self-sufficiency, stable price and rapid construction. Natural gas is transitioning from a primary power source to a peak shaving auxiliary role. Nearly half of the economies have reached their peak, coupled with the rapid popularization of clean energy technologies, the global natural gas power generation is getting closer and closer to the overall peak.Editor/Cheng Liting