Renewable energy sources achieved a groundbreaking milestone in 2023, accounting for a record 30% of global electricity production, as reported by think tank Ember.
The surge in solar and wind power installations propelled renewable generation to unprecedented levels, positioning the world on track to meet the ambitious target of tripling renewable capacity by 2030, as agreed upon by over 100 countries at the COP28 climate summit. According to Ember’s Global Electricity Review, renewable sources contributed 30.3% to global electricity last year, marking a significant increase from 29.4% in 2022. The substantial growth in solar projects, in particular, played a pivotal role in expanding renewable capacity worldwide. Dave Jones, Ember’s director of global insights, emphasised the transformative impact of the rise in solar capacity, stating that it unlocks the potential to achieve the renewable energy targets set for 2030. More than half of the global additions in solar and wind capacity were observed in China, with solar generation witnessing a remarkable increase of 23.2% and wind power growing by 9.8%. While the progress in renewable energy deployment is commendable, industry experts highlight the need to address challenges such as grid connections and permitting for new projects to ensure the realisation of the ambitious targets.
Ember’s report also predicts a further decline in fossil fuel power production, projecting a 2% reduction in 2024. This downward trend is expected to push overall fossil fuel power production to less than 60% of global electricity production for the first time since at least 2000, according to Ember’s data. The continued growth of renewable energy signals a paradigm shift in the global energy landscape, with renewables emerging as a dominant force in the transition towards a sustainable future. As countries strive to accelerate the adoption of clean energy solutions, the momentum towards achieving renewable energy targets remains pivotal in combating climate change and ensuring a resilient and low-carbon energy infrastructure.
