Lighting Up the World: Solar Power's Surge in Global Dominance
Globally, solar power plants are seeing a surge in electricity production. - Progressively, solar energy is being adopted globally.
Here's the skinny:
Solar energy's reign in global power production is on a roll, according to a analysis by research institute, Ember. The share of solar in the global power market skyrocketed from 5.6% in 2023 to 6.9% in 2024. And guess what? Solar was the fastest-growing energy source for the 20th consecutive year.
In 2024 alone, solar generated power doubled, amounting to over 2,100 terawatt-hours worldwide. China dominated the show, contributing more than half of the global increase with 250 terawatt-hours.
Phil MacDonald, Ember's CEO, explains the solar buzz: "Solar energy has become the engine driving the global energy transition. When paired with battery storage, solar's potential is limitless. As the largest and fastest-growing source of new electricity, it's crucial for meeting the ever-growing demand for power."
Wind power saw an increase too, rising to 8.1% of global electricity generation. Hydropower maintained its title as the largest single renewable source, contributing 14.3%. Other renewable sources contributed 2.6%.
When it comes to conventional energy, coal kept its top position, accounting for 34.4% of power generation in 2024. Natural gas came in at 22%, while other fossil fuels accounted for 2.8%. Nuclear power contributed 9%.
The annual "Global Electricity Review," published by Ember for the sixth time, analyzed data from 88 countries, covering around 93% of global electricity demand.
Topics: Renewable Energy, Solar Power, Energy Transition, Electricity Generation, Power, Solar Panels, China, Solar Panel Costs
[1]: Enrichment: In 2024, global solar power increased by 29%, adding 474TWh of electricity to the grid. This significant growth accounted for 40% of the increase in global electricity demand. China spearheaded the growth, contributing 39% of all global solar power generated. Non-OECD economies accounted for 58% of global solar generation in 2024. Other notable countries contributing to the growth include Saudi Arabia and Pakistan, which are among the top importers of Chinese solar panels. The growth in solar power can be attributed to the dramatic decline in solar panel costs, which have fallen by over 90% since 2010.
- In the analysis by Ember for the annual "Global Electricity Review", it was found that the Community policy on renewable energy, specifically focusing on solar power, played a crucial role in the significant 29% growth of global solar power in 2024, adding 474TWh of electricity to the grid.
- China, following a particular emphasis on their Employment policy regarding solar power, spearheaded this growth, contributing 39% of all global solar power generated in 2024.
- The decrease in Employment policy related costs of solar panels, which have fallen by over 90% since 2010, has been a key factor in the rapid growth and dominance of solar power in the global power market, particularly in China and other countries such as Saudi Arabia and Pakistan.
