More than 30% of the world’s electricity now comes from renewable sources

For decades, the fight against climate change has been driven by a central question: Can we transition away from fossil fuels and embrace a clean energy future? A new report prepared by Ember’s climate advisory team gives the answer – a resounding “yes”.

The world is witnessing a significant change in the energy landscape. For the first time in history, renewable energy sources such as solar and wind energy have crossed the critical threshold and account for more than 30% of global electricity production. This increase in clean energy is expected to reduce the energy sector’s dependence on fossil fuels, representing a potential turning point in the fight against climate change.

“The future of renewables is here,” said Dave Jones, director of global analytics at Ember.

The sun is shining brightly

Hydropower leads the charge for renewable energy, providing 14.3% of renewable energy. This is closely followed by solar and wind energy, which together generated 13.4% of global electricity in 2023.

Solar energy has proven to be a particular game-changer. The report highlights that solar energy has been the fastest growing source of electricity for 19 years in a row. In 2023 alone, solar generated more than twice the amount of new electricity compared to coal. This rapid growth is attributed to advances in solar technology and falling costs.

The development of renewable energy sources has already had a positive impact. The report suggests a significant slowdown in the growth of the use of fossil fuels to generate electricity over the past decade. This translates into cleaner air and a more stable climate. Experts also believe that 2023 could be the year when emissions from the energy sector peak, marking another important milestone.

Overall, the share of renewable energy sources has increased from 19% of global electricity production in 2000 to over 30% last year. Ember’s comprehensive review covers 80 countries, representing 92% of global electricity demand. The report’s authors say clean electricity could potentially lead to a 2% decline in global fossil fuel production in the coming year.

However, challenges remain. Although the use of fossil fuels to generate electricity is expected to decline, these sources still dominate in other sectors such as transport, heavy industry and heating.

Impact on emissions and future targets

Looking to the future, world leaders set ambitious goals at the recent UN Climate Change Conference COP28. Their goal is to increase the share of renewable energy sources in global electricity to 60% by 2030. Reaching this goal would require tripling current renewable capacity and significantly reducing emissions from the power sector. However, this goal is only six years away. Achieving this goal would require unprecedented coordination between state actors and the private sector through a combination of massive subsidies, technological advances, and economies of scale in production.

The clean energy transition is well underway, driven by advances in solar power and other renewable energy sources. While challenges remain, this significant milestone provides a glimpse into a future powered by clean and sustainable energy sources.