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Tuesday, May 28, 2024

Renewables Revolution: 30% of global energy now green-powered in 2023

Ember, a UK-based independent energy think tank, unveils groundbreaking findings: renewable energy sources surged to unprecedented heights in 2023, generating a historic 30% of the world’s electricity. Spearheaded by remarkable growth in solar and wind power, this milestone signals a pivotal shift towards reducing reliance on fossil fuels.

A New Era Dawns: With solar and wind installations reaching record levels in 2023, the report forecasts a forthcoming decline in fossil fuel generation. The momentum is set for a tangible reduction in power sector emissions, marking a turning point in our global energy landscape.

Solar Reigns Supreme: For the 19th consecutive year, solar energy emerges as the fastest-growing electricity source, outpacing even coal in new capacity additions. China emerges as a key player, driving over half of the global solar generation expansion and a significant portion of new wind power installations.

Low-Carbon Triumph: Bolstered by nuclear energy, nearly 40% of the world’s electricity now comes from low-carbon sources. This achievement translates into a record-low carbon dioxide intensity in global power generation, signifying substantial progress towards sustainable energy goals.

Challenges and Opportunities: Despite unprecedented growth in renewables, challenges persist, including a notable decline in hydropower due to drought conditions. Yet, opportunities abound as countries like China, Brazil, and the Netherlands showcase rapid transformations in their electricity systems through ambitious policies and innovative solutions.

A Future in Flux: While global electricity demand continues to soar, particularly in China, projections suggest a promising outlook with fossil fuel generation expected to decline in the coming years. The era of permanent fossil fuel decline in the power sector is on the horizon, promising a cleaner, electrified future for all.”

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