Renewable energy passes 30% of world’s electricity supply

🌈 Abstract

The article discusses the rapid rise of renewable energy, particularly wind and solar power, which accounted for more than 30% of the world's electricity for the first time in 2023. The report highlights that renewable energy has helped slow the growth in fossil fuel generation by almost two-thirds in the past 10 years, and that the renewables future has arrived, with solar power being the main driver of this growth.

🙋 Q&A

[01] Renewable Energy Growth

1. What percentage of the world's electricity did renewable energy account for in 2023? Renewable energy accounted for more than 30% of the world's electricity for the first time last year.

2. What has been the growth of renewable energy over the past 10 years? Renewable energy has grown from 19% of electricity in 2000 to more than 30% of global electricity last year.

3. What has been the impact of renewable energy on fossil fuel generation? Clean electricity has already helped to slow the growth in fossil fuel generation by almost two-thirds in the past 10 years.

4. What is the expected impact of renewable energy on global fossil fuel generation in the year ahead? The surge in clean electricity is expected to power a 2% decrease in global fossil fuel generation in the year ahead.

[02] Solar Power

1. What has been the growth of solar power? Solar was the main supplier of electricity growth, adding more than twice as much new electricity generation as coal in 2023. It was the fastest-growing source of electricity for the 19th consecutive year, and also became the largest source of new electricity for the second year running, after surpassing wind power.

2. How does the growth of solar power compare to other renewable sources? Solar power is accelerating faster than anyone thought possible, according to the report.

[03] Global Electricity Data

1. What is the scope of the report on the global power system? The first comprehensive review of global electricity data covers 80 countries, which represent 92% of the world's electricity demand, as well as historic data for 215 countries.

[04] Future Targets

1. What is the target for renewable energy's share of global electricity by 2030? World leaders are aiming to grow renewables to 60% of global electricity by 2030 under an agreement struck at the UN's Cop28 climate change conference in December.

2. What would this target require in terms of renewable electricity capacity? This would require countries to triple their current renewable electricity capacity in the next six years, which would almost halve power sector emissions.