"Renewables generated a record 30% of global electricity in 2023, driven by growth in solar and wind. With record construction of solar and wind in 2023, a new era of falling fossil generation is imminent. 2023 was likely the pivot point, marking peak emissions in the power sector," Ember said in its annual Global Electricity Review.
Solar generation was the leader in growth among renewables in 2023 and is at "the forefront of the clean energy revolution," the report said, adding that "solar capacity additions have been growing exponentially since 2000" and that it is "the fastest-growing source of electricity generation for the 19th year in a row."
"Combined with nuclear, the world generated almost 40% of its electricity from low-carbon sources in 2023. As a result, the CO2 intensity of global power generation reached a new record low, 12% lower than its peak in 2007," Ember said.
However, hydropower generation dropped to a five-year low due to severe droughts, which was met by an increase in coal generation, leading to a 1% increase in global power sector emissions, the report said.