Solar power sparked a renewables boom in 2024

What’s going on here?

Last year, clean energy – renewables plus nuclear – powered 40% of all global electricity generation, according to a new report by think tank Ember. The amount of electricity that comes from solar power globally has doubled in the last three years, and wind power is also growing fast.

However, the global demand for electricity is also on the rise , with a small increase in fossil fuel burning seen in 2024 to meet that need.

What does this mean?

Solar power is the fastest-growing source of electricity generation. Ember’s managing director Phil MacDonald describes it as “the engine of the global energy transition”. Despite this, it still only makes up 7% of the global energy mix meaning there’s still room for growth.

Cheaper battery storage technology allows electricity to be stored more efficiently until it’s needed, enabling solar to take off. In fact, battery storage capacity worldwide almost doubled in 2024, from 86 gigwatts to 155.

Why should we care?

The world needs more and more electricity, with new demands like electric vehicles (EVs), heat pumps and data centres adding more load to the global grid. Many systems that used to run on fossil fuels are now being electrified.

Renewables are helping to meet some of that demand, but we’re still heavily reliant on fossil fuels. In particular, spikes in electricity demand, such as during a heatwave, when everyone switches on their air conditioning, are still being met by burning more fossil fuels.

Ember’s forecasting however, is optimistic that growth in clean power can outpace our rising electricity needs. Solar is predicted to grow by 21% on average per year between 2024 and 2030, and wind by 13% per year. It suggests a bright future for the energy transition if investment continues in renewables.