A recent report reveals that over 30% of the world's electricity is now sourced from renewable energy.
The report's authors assert that a decline in fossil fuel power is now inevitable.
According to a recent report, more than 30 per cent of the world's electricity is now generated using renewables, with the European Union (EU) leading the charge, surpassing this global average.
The report, conducted by energy think tank Ember, highlights significant growth in wind and solar energy production as a driving force behind this milestone, which was reached in 2023.
Covering data from 80 countries representing 92 per cent of global energy demand, along with historic data from 215 other countries, the report indicates a pivotal moment where fossil fuel generation begins its decline. Clean power sources have played a key role in slowing the growth of fossil fuels by almost two-thirds over the past decade.
Dave Jones, Ember's director of global insights, comments, "The renewables future has arrived," noting that solar energy, in particular, is advancing at an unprecedented rate. Solar energy emerged as the world's primary electricity supplier last year, contributing twice as much new energy as coal and maintaining its status as the fastest-growing energy source for the 19th consecutive year.
The EU stands out for its remarkable progress, generating 44 per cent of its electricity from renewables and leading the way in solar and wind expansion. Greece, Hungary, and the Netherlands boast some of the highest shares of solar power in their energy mix globally. Sarah Brown, Ember's European programme director, attributes the EU's success to early adoption and action, highlighting initiatives like the European Green Deal, which sets targets, formulates policies, and secures investments to drive renewable energy deployment.
Despite challenges such as decreased hydropower generation due to droughts, the report predicts a decline in fossil fuel generation globally, with half of the world's economies now past their peak in fossil power.
Key enablers like the EU's ambitious policies and incentive mechanisms are crucial for sustaining the momentum of the renewables revolution.
In conclusion, the report underscores the inevitability of a decline in power sector emissions, marking a historic turning point in the energy landscape. However, the pace of emissions reduction hinges on continued support for solar and wind energy initiatives.