New data reveals that renewable energy accounted for over 30% of the world’s electricity last year, marking a significant milestone driven by the rapid expansion of wind and solar power.
According to a report on the global power system, there are indications that the world is approaching a tipping point in reducing fossil fuel generation, despite a continuous rise in overall electricity demand.
The report, compiled by climate thinktank Ember, highlights that clean electricity has played a crucial role in slowing down the growth of fossil fuels by nearly two-thirds over the past decade. Renewables, which represented 19% of electricity in 2000, now constitute more than 30% of global electricity production.
Ember’s director of global insights, Dave Jones, expressed that the transition to a renewables-dominated future has become a reality, with solar energy leading the charge at an unexpectedly rapid pace.
Solar energy emerged as the primary driver of electricity growth, outpacing coal in new electricity generation in 2023. It maintained its status as the fastest-growing electricity source for the 19th consecutive year and surpassed wind power to become the largest source of new electricity for the second consecutive year.
The comprehensive review of global electricity data, covering 80 countries representing 92% of global electricity demand and historic data for 215 countries, underscores the significant shift towards clean electricity.
Ember predicts a 2% reduction in global fossil fuel generation in the coming year, reflecting the surge in clean energy.
Jones emphasizes that while the decline in power sector emissions is inevitable, the pace of this decline hinges on the continued momentum of the renewables revolution.
Despite the progress in the power sector, fossil fuels still dominate global energy consumption, particularly in transportation, heavy industry, and heating.
World leaders have committed to increasing renewables to 60% of global electricity by 2030 under an agreement reached at the UN’s Cop28 climate change conference. Achieving this goal would necessitate a tripling of current renewable electricity capacity in the next six years, leading to a significant reduction in power sector emissions.
