Global electricity generation from renewable sources has increased from 19 percent in 2000 to 30 percent in 2023, according to the brand new “Global Electricity Review 2024” from the climate and thinking think tank Ember. This development can be attributed primarily to the expansion of wind and solar energy systems.
Phase-out of fossil fuels now “inevitable”
More than 30 percent of the energy consumed worldwide comes from renewable sources. The European Union is well ahead of the global average, already boasting a 44 percent rate, the report says. This includes 80 countries, which together account for 92 percent of the world‘s energy needs. According to the authors, the rapid growth of wind and solar energy has brought the world to a crucial tipping point – one where electricity generation from fossil fuels begins to decline. The use of renewable energy sources is said to have slowed the growth of fossil fuels by almost two-thirds in the last 10 years. “Emission declines in the power sector are now inevitable,” said Dave Jones, director of global insights at Ember.
Solar energy as the fastest growing energy source
The world‘s most important source of clean electricity in 2023 was once again solar energy. It generated twice as much energy as coal. “Solar energy in particular is developing faster than anyone thought possible,” says Jones. According to data from the Global Electricity Review 2024, the expansion of solar and wind energy in the EU is happening much faster than in the rest of the world. In 2023 alone, it contributed to 17 percent of global growth. One reason for this is the European Green Deal. According to Sarah Brown, Ember’s European program director, he made a decisive contribution to setting goals, developing strategies and securing investments. The countries with the largest share of solar energy in their energy mix include Chile with 20 percent, followed by Greece (19 percent), Hungary (18 percent) and the Netherlands (17 percent).
Energy demand (also) depends on external factors
Impulses for the choice of energy also come from outside. “The invasion of Ukraine has heightened the urgency of transitioning to clean energy and exiting dependence on fossil fuels – not just coal, but also gas, particularly from Russia,” Brown said. In general, energy demand has declined in recent years due to the energy crisis, high inflation rates and mild weather. However, it stabilized again at the end of 2023. According to the Ember report, global renewable energy growth could have been even higher in 2023 had it not been for a five-year low in hydroelectric power generation. China, India, Vietnam and Mexico were most recently hit very hard by the drought. These countries are responsible for 95 percent of the increase in coal-fired power generation.
Forecast for the energy mix 2024
The Global Electricity Review 2024 confirms: Overall, the EU is on track to generate 72 percent of electricity generation from renewable sources by 2030. The authors of the report expect a further decline in electricity generation from fossil fuels of around two percent in 2024. They point out that half of the world‘s economies have already passed peak fossil energy production for at least five years.
Investment in clean energy increased by 70 percent in 2023