The inescapable logic of renewable electricity
In 2023, more than 85% of new electricity came from renewables, especially solar and wind. Out of a total of 553 new power plants built worldwide, 473 were to generate renewable energy, with solar making up 63% of the total capacity.
In total, 473 GW of renewable electricity generation capacity was added, up from 308 GW in the previous year, and nearly doubling the installed capacity of 2021.
Additional renewable capacity has been increasing steadily over the past two decades, but last year was hugely successful, driven largely by China: in 2023, it installed 217 GW of solar panels, almost as much solar power as the entire rest of the world the previous year, and the pace has continued this year. Global wind capacity has also surpassed the 1 TW threshold.
Obviously, capacity does not equal generation, but in 2023, for the first time, carbon-free power generation technologies accounted for more than 43% of global electricity generation, if nuclear power (which is not renewable) is included, while truly clean renewables reached 30%.
