New data reveals a significant milestone in the global energy landscape, renewable sources accounted for over 30% of the global electricity supply. This surge is primarily attributed to the rapid expansion of wind and solar power, marking a notable shift away from traditional fossil fuel generation.
A comprehensive report on the global power system indicates that the world may be at the cusp of a transformative shift, with renewable energy poised to supplant fossil fuels as a dominant source of electricity. Despite a continued rise in overall electricity demand, clean energy has succeeded in curbing the growth of fossil fuel usage by nearly two-thirds over the past decade, according to findings from climate thinktank Ember.
Renewables have experienced remarkable growth, increasing from 19% of global electricity in 2000 to surpassing the 30% mark last year. Dave Jones, Ember’s director of global insights, hailed this as a clear sign of the “renewables future” arriving sooner than anticipated, with solar power emerging as a particularly potent force in driving this transition.
Solar energy, in particular, has emerged as a driving force behind the expansion of clean electricity, outpacing coal to become the primary contributor to new electricity generation in 2023. This marks the 19th consecutive year of solar’s rapid growth, solidifying its position as the leading source of new electricity for the second consecutive year, surpassing even wind power.
The comprehensive review of global electricity data, covering 80 countries representing 92% of global electricity demand, underscores the widespread adoption of clean energy practices. This surge in clean electricity is projected to lead to a 2% reduction in global fossil fuel generation in the coming year, signaling a significant milestone in the decarbonization of the power sector.
While the decline of fossil fuel usage in the electricity sector is a positive development, it’s important to note that fossil fuels continue to play a significant role in other sectors such as transport, heavy industry, and heating. However, efforts to accelerate the transition to renewable energy are underway, with world leaders aiming to increase renewables’ share of global electricity to 60% by 2030, as outlined in agreements reached at the UN’s Cop28 climate change conference.
Achieving this ambitious target will require countries to triple their current renewable electricity capacity within the next six years, potentially halving power sector emissions in the process. As the renewables revolution gathers momentum, its pace will be instrumental in shaping the trajectory of global energy emissions in the years to come.
