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Renewables Generated 40% of Global Electricity for First Time Ever in 2023
For the first time last year, more than 40% of the planet’s electricity was generated by zero-carbon sources — 14% from solar and wind.
According to two new reports from BloombergNEF (BNEF), the global clean energy transition has reached significant milestones and is poised to continue at its current pace. In the first six months of 2024, the United States was the world’s second largest market and has seen a 63 percent increase in half-annual investment levels since the passage of the Inflation Reduction Act. Mainland China stood head and shoulders over its next-nearest competitor – as it has for a decade – with nearly one-third of all global renewable energy output last year.
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