Renewable Energy Estimates 30% Of Global Electricity Supply In 2023

by | May 8, 2024 | Environmental News, Research Updates

Home » Environmental News » Renewable Energy Estimates 30% Of Global Electricity Supply In 2023

After a notable surge in renewable energy capacity, renewable energy estimates 30% of global electricity supply in 2023. Renewable energy sources, including solar and wind power, achieved this milestone in 2023. A recent report from the think tank Ember revealed this big development.

This surge brings the world closer to fulfilling a key international goal of tripling renewable capacity by 2030. It’s a commitment endorsed by over 100 countries at the COP28 climate summit held in Dubai last year.

Renewable energy estimates 30% of global electricity supply

Solar and Wind Driving Growth

The Global Electricity Review by Ember highlighted that renewable energy’s share of global electricity supply rose to 30.3 percent in 2023. It’s worth noting that it was 29.4 percent in 2022. This growth was mainly propelled by an increase in solar projects, significantly boosting global renewable capacity.

Dave Jones, Ember’s director of global insights, emphasized the impact of solar advancements on achieving future targets. “The rise in solar capacity during 2023 really unlocks the possibility that we are able to reach that level of renewables by 2030,” Jones stated in an interview.

The report noted that China accounted for more than half of the global additions in solar and wind capacity last year. With this, solar generation increased by 23.2 percent and wind power by 9.8 percent globally.

Challenges and Future Projections

Despite these gains, challenges remain. Industry experts have highlighted issues related to grid connections and project permits. These issues need to be addressed to meet the ambitious 2030 renewable capacity goal.

Ember’s forecast predicts a continued shift towards renewable energy. It anticipates a 2 percent decline in fossil fuel power production in 2024. This trend would push overall fossil fuel power generation to less than 60 percent of global electricity production. It’ll happen for the first time since Ember began collecting data in 2000.

Implications for Climate Action

Reducing fossil fuel use and emissions in the power sector is crucial for achieving global climate targets. The report underscores the inevitable decline of fossil fuel use in the power sector at a global level.

This leads to a decrease in sector emissions. This shift further marks a significant step towards a cleaner, more sustainable energy future.

As renewable energy estimates 30% of global electricity supply in 2023, it’s great news. This progress underscores the increasing feasibility of achieving ambitious renewable energy targets globally. The momentum gained from these advancements provides optimism for meeting climate goals. Moreover, it accelerates the transition towards a greener and more resilient energy landscape.

Also Read: Brazil Floods: Death Toll Rises To 75, Over 100 Still Missing

Author

  • Sarah Tancredi

    Sarah Tancredi is an experienced journalist and news reporter specializing in environmental and climate crisis issues. With a deep passion for the planet and a commitment to raising awareness about pressing environmental challenges, Sarah has dedicated her career to informing the public and promoting sustainable solutions. She strives to inspire individuals, communities, and policymakers to take action to safeguard our planet for future generations.

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