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. Last year for the first time more than 40 percent of the planet’s electricity was generated by zero-carbon sources — 14 percent from solar and wind.
By Cristen Hemingway Jaynes
In 2023, nearly 91 percent of net power capacity additions worldwide were from solar and wind — up from 83 percent in 2022 — compared with six percent from fossil fuels, the lowest level ever, a press release from BNEF said.
“We have seen a step-change in renewable energy compared to a few years before. There’s now no question this is the largest source of new power generation, wherever you go.” said Sofia Maia, lead author of Power Transition Trends 2024.
The first half of this year brought $313 billion in new renewable energy investment, which was…
