Almost 40% of the world’s energy production came from renewable and nuclear power, with two economies leading the pack.
Almost 40% of the world’s energy production came from clean sources according to the Global Electricity Review published on Wednesday by climate think tank Ember. The world may be past its fossil fuel production peak, the report speculated.
In 2023, 30.3% of the world’s energy production came from renewables (solar, wind, hydropower, and bioenergy). Another 9.1% came from nuclear power, widely considered a safe and clean source of energy. The remaining 60% of energy production came from fossil fuels.
The report predicts another drop in fossil fuel production to 57% in 2024. Then, an increase in renewables and nuclear power should come exponentially, the report added.
This represents a crucial milestone to reach 60% renewable electricity by 2030, which itself is necessary to reach no emissions in large economies by 2050. Most of the world’s advanced economies, including the US, China, and the EU, pledged to cut CO2 emissions completely within this century.
Solar energy production was the highest driver of growth, expanding by 28.8% between 2014 and 2023. Wind power and bioenergy followed with 13.8% and 5.6% respectively.
“The renewables future has arrived. Solar in particular is accelerating faster than anyone thought possible,” global insights director at Ember Dave Jones said.
The main drivers of growth
China and the European Union are the main drivers of growth in renewable energy production. China produces more solar and wind power than the 7 next largest producers. The Asian giant amounts to 36% of global solar production and could reach a milestone set for 2030 five years in advance.
However, China’s solar output amounts to just 6.2% of the total national electricity production. Because of its enormous energy demand, China is forced to keep burning coal and import crude oil to fuel its industries and households.
Nevertheless, China’s growth in solar, wind, and nuclear output should not be underestimated, and will likely power the green transition more than any other advanced economy in the following years.
In the European Union, on the other hand, renewable production is already at an advanced stage. The EU produced 44% of its energy from renewable sources and 23% from nuclear power. In total, 67% of the EU energy production came from clean sources.
Nuclear power in the European Union dropped significantly after Germany completed its phase-out in 2022. Since then, however, total nuclear production in the EU increased slightly.
Several European countries have over 10% of their energy production coming from solar power, including Greece, Hungary, the Netherlands, Germany, and Italy.
With G7 members agreeing to phase out coal completely, it’s safe to say the United States and Japan will dramatically increase their renewable production too. Nancy Haegel, a research advisor at the National Renewable Energy Laboratory, said “Choices in the next 10 years are critical.”
