Renewable energy sources made a significant milestone in the transition to clean energy last year as they contributed to over 30% of global electricity generation for the first time. The rapid growth of wind and solar power has played a key role in this achievement, according to a report on the global power system.
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 emerged as a leading source of electricity growth, outpacing coal in new generation capacity in 2023 and surpassing wind power as the largest source of new electricity for the second consecutive year. The accelerated growth of renewables, particularly solar, has exceeded expectations and 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, along with historical data for 215 countries. The surge in clean electricity is projected to lead to a 2% decrease in global fossil fuel generation in the coming year, signaling a positive trend in reducing emissions.
While the decline of fossil fuel use in the electricity sector is encouraging, 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 a tripling of current renewable capacity and lead to a substantial reduction in power sector emissions. This ambitious target underscores the importance of continued investment and innovation