Renewable energy represented a record 30% share of global electricity generation last year. It was driven by the growth of solar and wind energy, clean energy think tank Ember said in a report. «There was a record construction of facilities in 2023«, they highlighted from the consultancy.
“The renewable energies increased from 19% of global electricity in 2000driven by wind and solar electricity increasing from 0.2% in 2000 to a record 13.4% in 2023. China was the largest contributor in 2023, accounting for 51% of additional solar electricity generation world and 60% of new global wind electricity generation,” they highlighted in the report.
“The latest forecasts estimate that the decline in fossil generation will begin in 2024, marking 2023 as the probable peak of emissions from the energy sector. Solar energy, in particular, accelerates faster than expected”said Ember Global Insights Program Director Dave Jones.
“Combined with nuclear electricity, The world generated almost 40% of its electricity from low-carbon sources in 2023. As a result, the CO2 intensity of global electricity generation reached an all-time low, 12% lower than its peak in 2007,” they detailed.
Last year, there was an increase of almost 50% in renewable capacity installations, led by solar photovoltaics, particularly in China. “It was the fastest-growing source of electricity generation for the 19th consecutive year and surpassed wind electricity to become the largest source of new electricity for the second consecutive year,” they noted.
Regarding hydropower globally, “drought conditions led to a record drop in generation from this source to its lowest level in five years«Reads the report. Its decline was covered by an increase in coal-fired generation: “95% of the increase in this generation occurred in four countries that suffered severe droughts: China, India, Vietnam and Mexico,” they indicated.
«The decade ahead will see the electricity transition enter a new phase. A Permanent decline in fossil fuels in the global electricity sector is now inevitableby causing a drop in the sector’s emissions,” the firm stated.
