Renewables and nuclear sources of energy have made significant strides in the global power generation landscape, surpassing the 40% mark for the first time since the 1940s. According to a recent report from global energy think tank Ember, renewables and nuclear together provided 40.9% of the world’s power generation in 2024.
In 2024, renewables added a record-breaking 858 TWh of electricity, marking a 49% increase from the previous high in 2022. Solar energy emerged as the largest contributor for the third consecutive year, adding 474 TWh and capturing a share of 6.9% in the global electricity mix. Solar power also retained its position as the fastest-growing power source for the 20th consecutive year, with a growth rate of 29%.
The rapid growth of solar energy is evident as it doubled its electricity contribution in just three years, reaching over 2,000 TWh in 2024. Wind energy also experienced growth, accounting for 8.1% of global electricity generation, while hydro power, the largest renewable source, remained stable at 14% of global electricity.
Ember’s Global Electricity Review for 2024 highlights the critical role of solar power in driving the global energy transition. Phil MacDonald, Ember’s managing director, emphasized the importance of solar energy paired with battery storage in meeting the increasing demand for electricity worldwide.
The report also delves into the factors driving the rise in power demand, noting a small 1.4% increase in fossil fuel generation in 2024 due to surging electricity demand. Heatwaves played a significant role in boosting fossil fuel generation, accounting for nearly a fifth of the increase in global electricity demand, mainly driven by additional cooling requirements. However, without these temperature effects, fossil fuel generation would have only increased by 0.2%.
Looking ahead, Ember’s report predicts that clean generation growth will outpace rising demand, signaling a permanent decline in fossil fuel generation. The expected growth in clean generation is projected to meet a demand increase of 4.1% per year until 2030, surpassing expectations for demand growth.
The report underscores the pivotal role of emerging technologies, such as AI, data centers, EVs, and heat pumps, in driving global electricity demand. Additionally, the growth trajectories of major emerging economies like China and India will play a crucial role in shaping the global power sector outlook. These countries are leading the transition to clean power, with China accounting for more than half of the increase in solar generation in 2024.
In conclusion, the global energy landscape is undergoing a significant transformation, with renewables and nuclear sources taking center stage in the power generation mix. The growing momentum of solar and wind energy, coupled with advancements in storage technologies, is paving the way for a cleaner and more sustainable energy future.
