Clean power surpassed 40% of global electricity generation in 2024, driven by record growth in renewables, particularly solar, according to a new report by think-tank Ember.
Solar power continues to be the fastest-growing energy source, with the amount of electricity it generates doubling in the past three years.
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Expanding technologies such as AI, data centres, electric vehicles and heat pumps are already contributing to the rise in global demand.
However, the main reason why electricity demand growth was elevated in 2024 compared to 2023 was an increase in air conditioning use during heatwaves. This accounted for almost all of the small rise in fossil generation.
The report’s authors say the global power system will be dominated by two mega-trends over the rest of the decade: solar’s share in the electricity mix rising rapidly as it continues its exponential growth, and robust electricity demand growth as electricity replaces other forms of energy powering the global economy.
“As we reach a tipping point where the increasingly rapid rise of clean generation outpaces structural growth in demand, changes to fossil fuel generation over the short-term will be dominated by fluctuations in weather, as seen in 2024 with the impacts of heatwaves,” the authors wrote.
“Despite this, it remains clear that clean generation growth and the uptake of flexible technologies such as battery storage will reduce reliance on fossil fuel power in the coming years, even in a world of faster demand growth.
“We estimate that even if electricity demand grows at 4.1% per year until 2030, which exceeds current expectations, clean generation growth will be fast enough to keep pace. Dynamics in the world’s largest emerging economies will play a crucial role.
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“China and India are both moving towards a future of demand growth powered by clean electricity, helping to tip the balance towards a decline in fossil generation at a global level.”
Read the full report here.
