Most of the world’s electricity is still generated using fossil fuels, however, the new capacity being built globally was generated by more than 85% renewable sources. The data is from the International Renewable Energy Agency. 473 gigawatts (GW) of clean energy capacity was installed in 2023, primarily solar and wind power. In 2022, it was 308 GW of new renewables, while in 2021, it was 264 GW of new renewables. 63% of all the capacity added in 2023 was solar power.

The rapidly rising percentage of new generation that is renewable is impacting the overall global generation mix. Clean energy now makes up around 43 percent of total global electricity capacity and 30% of actual electricity generated in 2023.

COP28 set a goal to triple renewable capacity globally by 2030. Renewable capacity needs to grow by 16.1 percent every year to hit that target; last year it rose by 14 percent. The United States Inflation Reduction Act contains tax incentives that are already boosting renewable energy production. More information is available here.

Image: CanaryMedia.com

David Shiller

David Shiller is the Publisher of LightNOW, and President of Lighting Solution Development, a North American consulting firm providing business development services to advanced lighting manufacturers. The ALA awarded David the Pillar of the Industry Award. David has co-chaired ALA’s Engineering Committee since 2010. David established MaxLite’s OEM component sales into a multi-million dollar division. He invented GU24 lamps while leading ENERGY STAR lighting programs for the US EPA. David has been published in leading lighting publications, including LD+A, enLIGHTenment Magazine, LEDs Magazine, and more.

See Full Bio