Record-Breaking Renewable Energy Generation Set Last Year!

17 May 2024

Recently, it was revealed that renewable power generated a record-breaking 30% of the world’s electricity last year!

Countries like China and Brazil significantly boosted solar and wind power, according to Ember’s Global Electricity Review. This growth suggests that the peak in global greenhouse gas emissions is on the horizon. However, funding shortages may hinder many nations’ transition to cleaner energy sources.

 

 

China took the lead in solar and wind energy expansions, adding 51% of new solar and 60% of new wind capacity globally, despite also increasing coal power production. The cost of solar power halved last year, further accelerating the shift away from fossil fuels, which are becoming less competitive due to rapid innovations in renewable technologies.

At the COP28 summit last November, global leaders committed to tripling renewable capacity by 2030, emphasising renewable energy as a crucial strategy for significant emissions reductions. This ambitious target could mark the beginning of a decline in fossil fuel use and associated emissions in the power sector, the largest emitter of greenhouse gases.