June 13, 2024
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RENEWABLE ENERGY

Renewable Electricity Reached Record 30% of Global Production in 2023 – Think Tank

Renewable electricity generation surged to a historic high, comprising 30% of global production in 2023, according to a report by think tank Ember.

This milestone brings the global target to triple renewable capacity by 2030 within reach, as agreed upon by over 100 countries at the COP28 climate summit in Dubai.

Ember’s Global Electricity Review showed renewable sources provided 30.3% of global electricity last year, up from 29.4% in 2022 as growth in projects, particularly solar, increased capacity.

Notably, the rise in solar capacity, particularly in China, has accelerated progress towards meeting climate goals. Solar generation increased by 23.2%, while wind power saw a 9.8% rise, driven largely by expansions in China.

“The rise in solar capacity that happened during 2023 really unlocks the possibility that we are able to reach that level of renewables by 2030, and the tripling of capacity that was promised at COP28,” Dave Jones, Ember’s director of global insights said in an interview.

However, challenges such as grid connections and permitting for new projects need to be addressed to ensure the target is met.

Despite these obstacles, Ember’s report predicts a continued decline in fossil fuel power production, projected to decrease by 2% in 2024. This shift is expected to bring overall fossil fuel power production to less than 60% of global electricity production for the first time since at least 2000.

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