In 2023, a significant milestone in the global energy landscape was reached: 85% of new electricity comes from renewable energy sources. This impressive figure is not a coincidence, but the result of a convergence of key factors that are disrupting our traditional approach to energy production. From technological innovation to state policies promoting the energy transition, along with a growing awareness of environmental issues, let’s discover together the secrets of this energy revolution that is redefining our future. Let’s dive into this fascinating dynamic that not only transforms the way we consume energy but also works towards a more sustainable and responsible world.
In 2023, renewable energy generated an impressive 85% of new electricity capacity worldwide. This surprising development did not happen by chance. Various factors have contributed to this energy revolution. We will discover together the keys to this colossal success.
The meteoric rise of solar and wind energy
Since 2010, the deployment of energy production capacity has largely been dominated by the expansion of solar and wind energy. Last year, nearly 346 gigawatts (GW) of new solar capacity were installed, representing about 63% of all new capacity added in 2023. This extraordinary growth is the result of technological innovation and global efforts to reduce associated costs.
Investments and incentive policies
Governments and private companies have heavily invested in renewable energies. Tax incentives, like those offered by the Inflation Reduction Act in the United States, have played a crucial role. These measures not only promote the construction of new facilities but also the gradual phase-out of fossil fuel-based infrastructure.
Continued decline in costs
Trends show that the costs of renewable energy continue to decrease. Thanks to technological advancements and increased mass production, solar panels and wind turbines have become much more affordable. This growing accessibility is good news for consumers and businesses looking to adopt sustainable energy solutions.
The slowdown of non-renewable energy
Alongside the rise of renewable energies, a significant slowdown in the construction of new fossil fuel power plants is observed. In the United States, for example, coal and natural gas plants accounted for 98% of energy capacity closures in 2023, according to the Energy Information Administration. This phenomenon frees up space for cleaner energy sources.
Challenges to overcome
Despite these remarkable progress, the transition to 100% renewable energy has not yet been achieved. At COP28, an ambitious goal to triple the global renewable capacity by 2030 was set. To achieve this, an annual growth of 16.1% is needed, whereas it was only 14% last year. However, time is not yet up, and current trends encourage optimism.
Future perspectives
The current dynamics suggest that we are on the right path to maintain or even accelerate this growth rate. Innovations continue to make renewable energies more competitive. Moreover, the environmental policies of many countries actively support this transition, paving the way for a cleaner and more sustainable energy future.
