In 2024, the global electricity sector achieved a significant milestone: over 40% of the world’s electricity was generated from clean energy sources, marking the highest share since the 1940s. This achievement underscores the accelerating transition towards renewable energy, driven primarily by substantial growth in solar and wind power.
Surge in Solar and Wind Energy
Solar power experienced remarkable expansion, with capacity doubling over the past three years, making it the fastest-growing energy source globally for two decades. In 2024 alone, solar generation increased by 29%, contributing nearly 7% to the global electricity mix. Wind energy also saw significant growth, accounting for just over 8% of global electricity. Together, these renewable sources have been pivotal in reducing reliance on fossil fuels.
Regional Highlights
- European Union: Solar energy surpassed coal for the first time, reflecting the region’s commitment to phasing out fossil fuels. Wind power remained the EU’s second-largest power source, following nuclear.
- Asia: Countries like China and India led the charge in clean energy adoption. China contributed over half of the global additions in solar and wind capacity, while India saw a 26% rise in clean electricity production compared to the previous year.
Impact on Emissions
Despite the growth in renewables, global electricity demand increased by 4% in 2024, driven by factors such as heatwaves, data centers, AI systems, electric vehicles, and heat pumps. This surge in demand led to a 1.6% increase in emissions from the power sector. However, the continued expansion of clean energy sources is expected to outpace demand growth, potentially leading to a decline in fossil fuel generation and associated emissions in the near future.
Challenges and Outlook
While the progress in renewable energy adoption is commendable, challenges remain. Issues such as grid connectivity and permitting delays for new projects need to be addressed to sustain the momentum. Nonetheless, the record growth in solar and wind capacity in 2024 provides optimism that the global target to triple renewable energy capacity by 2030, as pledged by over 100 countries at the COP28 climate summit, is within reach.
In conclusion, 2024 marked a pivotal year for the global electricity sector, with clean energy sources reaching unprecedented levels. The trajectory suggests a promising shift towards a more sustainable and low-carbon energy future.
