The report Global Electricity Review 2024 by Ember provides a comprehensive analysis of the changes in global electricity generation. The report presents the most important trends and highlights the implications for energy sources and emissions in the electricity sector in the near future.
Key findings
- Record share of renewable energies
- Renewable energies generated 30% of global electricity for the first time in 2023. Solar and wind energy contributed significantly to this growth. Together with nuclear energy, low-carbon sources generated almost 40% of the world’s electricity, leading to a new record low in the carbon intensity of global electricity generation.
- Solar energy is at the forefront of the global energy transition. In 2023, more than twice as much new electricity was generated from solar energy than from coal. The record increase in installations at the end of 2023 means that an even greater increase in solar power generation can be expected in 2024.
- Fossil fuels
- Production from fossil fuels rose slightly by 0.8% in 2023, which – despite a decline in CO2 intensity – led to a new record high in emissions.
- Growth in demand
- Growth in electricity demand was below average in 2023, but is expected to rise sharply in the future, driven by technologies such as electric vehicles, heat pumps and data centers. China was the main driver of global demand growth.
- Positive outlook
- The report forecasts a slight decline in fossil fuel generation for the first time in 2024, which will be even greater in subsequent years due to the continued growth of solar and wind energy. The global targets of tripling renewable capacity by 2030 could almost halve emissions in the electricity sector.
The switch to renewable energies, particularly solar and wind power, not only offers significant environmental benefits, but also economic opportunities. Entrepreneurs who invest in these technologies at an early stage and adapt their business models to a sustainable energy economy can achieve significant cost savings and increase their resilience and competitiveness.
Use the opportunities of the global energy transition to position your company sustainably and successfully.
