Based on our forecast model, which utilizes actual data for the first 11 months of the year 2023 and projected data for the final month, it is clear that the state of electricity consumption in Mongolia greatly leans toward fossil energy. At present, Mongolia's total electricity consumption amounts to 7.51 TWh, sourced entirely from coal. To put this into perspective, using rounded numbers, the global average of electricity consumption per person corresponds to about 410 watts. Mongolia's electricity consumption falls significantly short of this average, suggesting that the country may be experiencing lackluster economic development and below-par living standards due to low levels of electricity generation. Furthermore, with all electricity stemming from coal, Mongolia has virtually no clean or low-carbon energy in their mix, creating a heavily fossil-dependent and environmentally unfriendly energy profile.
Looking at other nations, Mongolia has many examples it could draw on to improve its low-carbon electricity generation. There's a noticeable success in countries like China and the United States, who have significantly embraced wind and solar power, generating 941 TWh and 423 TWh respectively. Similarly, countries like Japan have displayed commendable efforts in harnessing solar power, generating 100 TWh. Additionally, countries like the United States, France, and Russia have extensively used nuclear energy, creating a substantial amount of low-carbon electricity at 776 TWh, 319 TWh, and 215 TWh respectively. Given Mongolia's geographical and climatic similarity to China, it seems plausible that Mongolia could significantly boost its wind and solar power generation. Furthermore, given that Mongolia has vast reserves of Uranium, the country could also consider investing in nuclear power, following the footsteps of nations like the United States and France.
Examining the history of low-carbon electricity in Mongolia, it's evident that there was almost none until 2013. In the early 2010s, Mongolia flirted with wind energy generation, producing a minuscule 0.1 TWh in 2013 and 2014. There was also a brief trial with hydroelectric power, but without any significant contribution. The mid to late 2010s saw a modest increase in wind energy generation, rising to 0.2 TWh in 2017. Unfortunately, Mongolia saw a drop in wind energy in 2022, but quickly bounced back in 2023 with an increase of 0.3 TWh. Interestingly, solar energy has stayed stubbornly at zero TWh since its introduction to Mongolia's electricity mix in 2008. This history suggests a clear lack of commitment to and potential underutilization of low-carbon energy resources in Mongolia.