In 2023, renewable energy accounted for 86% of global capacity expansion for electricity generation. Worldwide, more than 500 GW have been installed, which represents a new record in the annual growth of renewable energy. China, once again, dominated global capacity additions with a share of 59% amounting to 316 GW newly installed renewable energy capacity. It is by far the world leader, with around a third of worldwide installed renewable energy capacity (1,450 GW).
The share of renewable energy in global electricity generation remained at 30% in 2023. The share of renewable energy in total global energy consumption account for around 13% in 2023.
Although 139 countries have pledged to emit no more greenhouse gases by 2050 ("net zero"), many countries are once again increasing their consumption of fossil fuels.
Germany has committed to this goal and aims to generate around 80% of its gross electricity from renewable energies by 2030 and 100% from 2035 onwards. Currently, in Germany, over 60% (2024) of electricity is generated from renewable energies. Primary energy consumption is covered for 20% by renewable energy. Wind and solar energy as well as biomass are the most important renewable energy sources for power generation. While renewable energy already have a significant share in electric power generation, other sectors are still lacking proper advancements towards renewable energy, e.g., the heating sector. Here, the share of renewable energy is 17% (see also geothermal energy).
Due to the expansion of renewable energy, an increasing demand for electricity storage and balancing energy is foreseeable. The existing electricity storage facilities are primarily pumped storage facilities (9.9 GW capacity in 2023). However, their further expansion is limited and other energy storage options explored.