Renewable energy trend in world

Renewable energy (solar, wind, hydro, biomass, geothermal, ocean) is growing faster than any other energy source.

Main trends

• Share: renewables supply about 30% of world electricity and about 15–20% of final energy (including traditional biomass); hydropower remains the largest renewable electricity source, but solar and wind now add the most new capacity.
• Capacity growth: global renewable capacity additions have been setting records every year, with solar PV the largest part (a few hundred GW added per year). Over 4,000 GW of renewable capacity exists worldwide. COP28 set a goal of tripling renewable capacity by 2030.
• Falling costs: the cost of solar PV has fallen by about 90% in a decade and onshore wind by around 70%, so new solar and wind are now often cheaper than new coal or gas.
• Leaders: China (by far the largest in solar, wind and EV), then the USA, India, Brazil and the EU. Developing countries are increasing quickly.
• Technology trends: large offshore wind farms, floating solar, battery storage, green hydrogen, smart grids and electrification of transport and heating.
• Drivers: climate commitments (Paris Agreement, net zero), energy security, lower costs and public support.
• Challenges: intermittency, grid integration and storage, finance in low-income countries, land use, and critical minerals supply.

Renewable capacity (illustrative trend)
2000 |##
2010 |#####
2015 |#########
2020 |##############
2024 |###########################

(Chart is illustrative, not to scale.)

The trend suggests that renewables will become the main source of electricity in coming decades.