For the first time in history, renewable energy sources accounted for more than 30% of global electricity generation last year. This significant milestone marks a major step forward in the transition to clean energy, according to a report on the global power system. The rapid growth of wind and solar power has played a key role in this achievement, with solar power emerging as a leading source of electricity growth.
The report suggests that the world may be on the verge of reducing its reliance on fossil fuels, despite a continued increase in overall electricity demand. Clean electricity has helped significantly slow the growth of fossil fuel consumption over the past decade, with renewables accounting for more than 30% of global electricity in 2023, up from 19% in 2000.
Solar power has surpassed wind power as the largest source of new electricity for the second consecutive year and outpaced coal in new generation capacity in 2023. The accelerated growth of renewables, particularly solar, is driving a shift in the global power sector.
The findings of the report cover 80 countries representing 92% of the world’s electricity demand and historical data for 215 countries. The surge in clean electricity is projected to lead to a 2% decrease in global fossil fuel generation next year, signaling a positive trend towards reducing emissions.
While there is progress being made towards transitioning to clean energy, these resources continue to play a significant role in other sectors such as transportation, heavy industry and heating. World leaders have set a goal of increasing renewables to 60% of global electricity by 2030, which would require tripling current renewable capacity and lead to substantial reduction in power sector emissions. This ambitious target underscores the importance of continued investment and innovation in clean energy technologies to drive a more sustainable future.