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Renewables reached 7.5% of total primary energy consumption, up 1% annually. Is that 1% of 7.5%, or up from 6.5%?

by sp332 3y ago

dredmorbius 3y ago
Talking around your question: I recently saw an explanation of why the Federal Reserve (and other central banks) discuss prime interest rate changes in terms of basis points. This specifically avoids the issue of trying to sort out what the denominator and/or referent of a change is. One basis point is 1/100th of a percent. So an increase of 1 basis point means that the interest rate has been changed by 0.01%. If it had been at 5%, it is now 5.01%, if it had been at 50%, it's now at 50.01%. I was quoting / abstracting from the press release. My interpretation is "consumption increased 1% year-over-year", which is to say from in the neighbourhood of 7.425%. That said ... how percentage increases are calculated between two values can vary. The formula I find most justified is: (v - v') / ((v + v')/2) Where v and v' are the initial and subsequent observations. Notionally, this is "delta-v over mean(v)". In general usage, practice varies greatly, often with the delta being taken over either v or v', both of which give different results, especially for large percentage changes. Particularly galling, casual and imprecise usage may mix both (or other) methods making comparisons all the more difficult. And specifically: I don't know, though I'd suggest reading the report (which I also linked) to answer that question. The ask is fair, but an accurate response requires reading the actual methodology and practices.
- sp332 3y ago
  Fair! https://www.energyinst.org/__data/assets/pdf_file/0004/1055542/EI_Stat_Review_PDF_single-2.pdf https://www.energyinst.org/__data/assets/pdf_file/0004/10555... Page "9" (the 11th page of the PDF) shows that renewables consumption is at 45 Exajoules out of 604 (7.45%) for 2022, up from 40/597 = (6.7%) in 2021. That would mean that way more growth happened in renewables consumption last year than non-renewables. +5 exajoules for renewables, +0.28 for hydro, and only +1.3 for everything else.
  - dredmorbius 3y ago
    Thanks! (I'm ... getting to that doc myself.)

Renewables reached 7.5% of total primary energy consumption, up 1% annually. Is that 1% of 7.5%, or up from 6.5%?

by sp332 3y ago

Renewables reached 7.5% of total primary energy consumption, up 1% annually. Is that 1% of 7.5%, or up from 6.5%?

Talking around your question: I recently saw an explanation of why the Federal Reserve (and other central banks) discuss prime interest rate changes in terms of basis points. This specifically avoids the issue of trying to sort out what the denominator and/or referent of a change is. One basis point is 1/100th of a percent. So an increase of 1 basis point means that the interest rate has been changed by 0.01%. If it had been at 5%, it is now 5.01%, if it had been at 50%, it's now at 50.01%. I was quoting / abstracting from the press release. My interpretation is "consumption increased 1% year-over-year", which is to say from in the neighbourhood of 7.425%. That said ... how percentage increases are calculated between two values can vary. The formula I find most justified is: (v - v') / ((v + v')/2) Where v and v' are the initial and subsequent observations. Notionally, this is "delta-v over mean(v)". In general usage, practice varies greatly, often with the delta being taken over either v or v', both of which give different results, especially for large percentage changes. Particularly galling, casual and imprecise usage may mix both (or other) methods making comparisons all the more difficult. And specifically: I don't know, though I'd suggest reading the report (which I also linked) to answer that question. The ask is fair, but an accurate response requires reading the actual methodology and practices.

sp332 3y ago
Fair! https://www.energyinst.org/__data/assets/pdf_file/0004/1055542/EI_Stat_Review_PDF_single-2.pdf https://www.energyinst.org/__data/assets/pdf_file/0004/10555... Page "9" (the 11th page of the PDF) shows that renewables consumption is at 45 Exajoules out of 604 (7.45%) for 2022, up from 40/597 = (6.7%) in 2021. That would mean that way more growth happened in renewables consumption last year than non-renewables. +5 exajoules for renewables, +0.28 for hydro, and only +1.3 for everything else.
- dredmorbius 3y ago
  Thanks! (I'm ... getting to that doc myself.)