The ascent of solar and wind power has propelled renewable generation to a landmark 30% of global electricity production in 2023, marking a significant stride toward achieving the ambitious goal of tripling renewable capacity by 2030, according to a report by think tank Ember.
As the world intensifies efforts to slash fossil fuel usage and emissions to align with global climate objectives, over 100 nations at the COP28 climate summit in Dubai last year committed to tripling renewable energy capacity by the end of the decade.
Ember’s Global Electricity Review unveiled that renewable sources contributed 30.3% of global electricity last year, a notable uptick from 29.4% in 2022, fueled by substantial growth in solar projects that bolstered capacity.
Dave Jones, Ember’s director of global insights, emphasized the pivotal role of solar capacity expansion in realizing the 2030 renewables target. “The rise in solar capacity that happened during 2023 really unlocks the possibility that we are able to reach that level of renewables by 2030, and the tripling of capacity that was promised at COP28,” Jones stated in an interview.
China led the charge in solar and wind capacity additions, accounting for more than half of the global increase in 2023, the report noted. Solar generation surged by 23.2%, while wind power saw a 9.8% increase on a global scale.
However, industry experts caution that challenges related to grid connections and project permits must be addressed to ensure the target’s attainment.
Ember’s report foresees a 2% decline in fossil fuel power production in 2024 as renewable growth persists, driving overall fossil fuel power production to dip below 60% of global electricity production for the first time since at least 2000, when Ember’s data collection began.
“The report highlights a permanent decline in fossil fuel use in the power sector at a global level, leading to falling sector emissions,” the report concluded.