The world has reached a significant milestone in clean energy, with wind and solar energy leading to a record 30% of the world‘s electricity being produced by renewable sources last year, according to a new report by climate think tank Ember. The Global Electricity Review report released on Wednesday highlights that the planet is moving towards a crucial tipping point towards clean energy, with global generation from fossil fuels expected to decrease in the coming years.
Dave Jones, director of global insights at Ember, emphasized the importance of this achievement, stating that reaching 60% renewable electricity by 2030 is critical for meeting global climate goals. Jones mentioned that the future of renewable energy has already arrived, with solar energy accelerating at a pace faster than previously anticipated.
The data presented in the report showcases the significant changes occurring in the global energy sector. In 2000, renewable energy accounted for less than 19% of the world‘s combined energy sources, but it now represents over 30%. When considering nuclear power, almost 40% of the world‘s electricity was generated from low-carbon sources last year.
Despite global levels of planet-warming pollution reaching an all-time high in 2023, the rise of renewables has led to a record low in the power sector’s carbon intensity. The report also highlights that the growth of renewable energy has slowed the expansion of fossil fuels by almost two-thirds over the past decade.
Solar energy emerged as the fastest-growing source of electricity in 2023 for the 19th consecutive year, generating almost twice as much electricity as coal. The report predicts that the solar energy boom will continue in 2024, causing a notable shift in the energy landscape.
China stands out as a global leader in solar energy, accounting for almost 36% of global generation last year. However, the percentage of solar energy in China’s domestic electricity production is relatively low compared to other solar energy-producing countries, such as Chile, Australia, and the Netherlands.
The report also points towards an increase in electricity demand, with global demand hitting a record high in 2023. The rise in demand is expected to continue, driven by factors such as electric vehicles, heat pumps, and green hydrogen production. Despite the projected increase in demand, the transition to renewable energy is seen as a positive step forward in achieving sustainable energy goals.
Overall, the report underscores the progress made in transitioning towards renewable energy sources but emphasizes the need for urgent decisions in the next decade to ensure a swift and effective transition. The findings are encouraging, indicating that significant amounts of electricity can be generated using renewable energy sources. The key now lies in accelerating the pace of this transition to meet crucial sustainability targets.