Renewable energy sources accounted for over 30% of the world's electricity production for the first time in history last year, marking a significant milestone driven by a rapid expansion in wind and photovoltaic solar power, as per new data.
A report from climate thinktank Ember reveals a promising trend towards reducing fossil fuel dependency in global power systems, despite a continuous rise in overall electricity demand. Dave Jones, Ember's director of global insights, emphasized the transformative impact of clean energy, stating, “The renewables future has arrived. Solar, in particular, is accelerating faster than anyone thought possible.”
According to Ember, solar power emerged as the primary contributor to electricity growth, outpacing coal by more than double in 2023. This marks the 19th consecutive year of solar's status as the fastest-growing electricity source, surpassing wind power to become the largest source of new electricity for the second consecutive year.
Covering 80 countries representing 92% of global electricity demand, the comprehensive review of global electricity data signals a notable shift towards cleaner energy sources. The surge in renewable electricity is projected to drive a 2% decline in global fossil fuel generation in the coming year.
Jones highlighted the significance of this shift, noting, “The decline of power sector emissions is now inevitable. 2023 was likely the pivot point – peak emissions in the power sector – a major turning point in the history of energy.”
Despite progress in the electricity sector, fossil fuels maintain a dominant role in global energy consumption, especially in transport fuels, heavy industry, and heating.
However, world leaders have set ambitious targets to accelerate the transition to renewable energy, aiming for renewables to constitute 60% of global electricity by 2030. This agreement, struck at the UN's Cop28 climate change conference, would necessitate a tripling of current renewable electricity capacity within the next six years, potentially leading to a significant reduction in power sector emissions.
