The leading countries for installed renewable energy in 2023 were China, the United States, and Brazil. China was the leader in renewable energy installations, with a capacity of around 1,453 gigawatts. The U.S., in second place, had a capacity of around 388 gigawatts. Renewable energy is an important step in addressing climate change and mitigating the consequences of this phenomenon. Renewable energy capacity and productionRenewable power capacity is defined as the maximum generating capacity of installations that use renewable sources to generate electricity. The share of renewable energy over the world’s power production has increased in recent years, surpassing 30 percent in 2023. Renewable energy consumption varies from country to country. The leading countries for renewable energy consumption are China, the United States, and Brazil.Renewable energy sourcesThere are various sources of renewable energy used globally, including bioenergy, solar energy, hydropower, and wind energy, to name a few. Globally, China and Canada are the top two countries in terms of generating the most energy through hydropower. Regarding solar power, China, the United States, and Japan boast the highest installed capacities worldwide.

In 2023, renewable energy consumption in China reached 27.6 exajoules, more than any other country in the world. Renewable sources such as geothermal, wind, solar, biomass, and waste were included in this measurement, while cross-border electricity trade was not taken into account. Hydropower in China China is by far the leading consumer of hydropower, with over three times the consumption of other leading countries such as Canada and Brazil. Several of the world’s hydroelectric dams with the highest generating capacity are located in China, many of which were constructed in the past two decades. The Three Gorges Dam on the Yangtze River was completed in 2012 to become the largest in the world. Energy consumption in the United States After China, the United States was the second-highest consumer of renewable energy in the world. Both countries also consumed the most primary energy overall. The United States strives to achieve energy independence in order to reduce imports of foreign energy sources. As renewable energy gains momentum in a fossil-fuel dominated industry, renewable production in the United States has slightly exceeded the country’s consumption in recent years, and additionally, have both more than doubled since 1975.

In 2023, Germany accounted for the largest production of renewable energy in Europe, with approximately 274 terawatt-hours of energy generated. Norway was the second-largest producer, with some 151 terawatt-hours less than Germany. In both countries, renewable energy production increased in 2023 compared to 2023.Germany and the Norway were also among the largest renewable energy consumers in Europe in 2023, while the largest renewable energy capacity was installed in Germany.

China is the largest consumer of primary energy in the world, having used some 170.7 exajoules in 2023. This is a lot more than what the United States consumed, which comes in second place. The majority of primary energy fuels worldwide are still derived from fossil fuels, such as oil and coal. China's energy mix China’s primary energy mix has shifted from a dominant use of coal to an increase in natural gas and renewable sources. Since 2013, the renewables share in total energy consumption has grown by around eight percentage points. Overall, global primary energy consumption has increased over the last decade, and it is expected to experience the largest growth in emerging economies like the BRIC countries - Brazil, Russia, India, and China. What is primary energy? Primary energy is the energy inherent in natural resources such as crude oil, coal, and wind before further transformation. For example, crude oil can be refined into secondary fuels, such as gasoline or diesel, while wind is harnessed for electricity - itself a secondary energy source. A country’s total primary energy supply is a measure of the country’s primary energy sources. Meanwhile, end use energy is the energy directly consumed by the user and includes primary fuels such as natural gas, as well as secondary sources, like electricity and gasoline.

In 2023, around 87 percent of New Zealand's electricity came from renewable energy sources. In comparison, only about 1.5 percent of electricity in Bangladesh was generated from renewable energy that year.

The levelized cost of electricity (LCOE) varies around the world and was about 23 U.S. cents in 2015 in the United Kingdom, compared to 10 cents in India. The LCOE is calculated by using the average cost to build and operate a power plant divided by its total power output over its lifetime. It is a measure of comparison between different electricity generation methods that have varying life spans, sizes, costs, and capacities. LCOEs are used to make an informed decision on the economic feasibility of energy projects in comparison to utility rates. For example, most renewable energy projects have no fuel costs (with the exception of biomass).

Cost of renewables
The falling cost of renewables has prompted a global shift towards using renewable sources for energy generation. Most notably, the average cost of solar and wind power technologies is expected to continue to decrease. The costs of installing offshore wind are also encouraging countries with the resource potential to put more into the market. Other less mainstream energy sources, like geothermal energy have experienced more of a fluctuation in costs as development spending varies.

In 2023, Luxembourg was the leading country in solar energy penetration, with solar power accounting for almost 24 percent of the country's electricity mix that year. Malta followed with a share of solar of more than 20 percent. On average, the share of electricity generation from solar energy worldwide was roughly 5.5 percent in 2023. In comparison with the previous year, figures increased by almost one percentage point. Solar energy generation worldwide In total, solar energy production reached 1.3 petawatt hours in 2022, increasing by some 30 percent when compared to the previous year. Solar energy production was the highest in China, which generated over 584 terawatt hours of solar power in 2023. The United States was the country with the second-highest solar energy production that year, with some 238 terawatt hours generated. China’s solar photovoltaic industry Aside for being the largest solar energy producer worldwide, China accounts for the largest production of solar energy components. In 2022, the country was responsible for almost 78 percent of the world's solar photovoltaic module production. Most of the largest solar component manufacturers worldwide are based in China. For instance, photovoltaic company LONGi was the leading solar ingot and wafer manufacturer worldwide, reaching a production output of 122 gigawatts in 2023.

In 2023, the largest regional investments into renewable energy came from China and Europe. China alone invested over 273 billion U.S. dollars, while Europe contributed roughly 134 billion to sustainable energy technologies. Investment in the United States was also significant on a global scale. U.S. clean energy consumption The United States is one of the largest consumers of renewable energy worldwide. Though hydroelectric power was the most common source of renewable electricity until 2018, wind took over in that year, reaching 425 terawatt hours in 2023. In recent years, wind and solar accounted for most of the new installed capacity. Investment in renewables in the United States is expected to increase greatly in the next years with the introduction of the Inflation Reduction Act, the most significant climate legislation in U.S. history. Renewables in Europe Germany holds a significant position as a leading consumer and producer of renewables worldwide, notable for its onshore wind capacity. Spain, the United Kingdom, and France are also among the largest installers of total wind power capacity in the world. Biomass is another major source of renewable energy for Europe, particularly in the heating and cooling sector.

In the fiscal year 2023, the share of renewable energy in electricity generation in Japan reached approximately 22.9 percent. Figures increased compared to around ten percent in fiscal 2011. Main energy sources for electricity generation in Japan The nuclear disaster in 2011 affected the electricity market in Japan insofar that nuclear energy was replaced by fossil fuels. Natural gas and coal represented the energy sources with the largest share of the total electricity production in Japan. Since the archipelago lacks domestic reserves of fossil fuels, it is dependent on imports. This resulted in a declining self-sufficiency rate of primary energy, and an increase in electricity costs for homes shortly after the disaster. To be more independent of fossil fuel imports as well as to reduce greenhouse gas emissions and electric power costs, the country's current energy policy aims to replace fossil fuels with nuclear and renewable energy sources. Renewable energy in Japan In recent years, Japan was one of the largest hydroelectric power generating countries. Solar and hydroelectric power represented the renewable energy sources with the largest share in the electricity production. Since Japan is a mountainous country, there is a lack of space for other renewable power facilities such as wind farms. Wind power currently produces only a small amount of the electricity supply. Therefore, the Japanese government presently supports the expansion of offshore wind farms. In 2020, the Japanese government announced its intention for the country to become entirely emission-free by 2050. Nevertheless, there has been international criticism that Japan is unlikely to expand its renewable energy share sufficiently to achieve this goal.

In 2023, China consumed 27.4 percent of global primary energy, positioning itself as the largest primary energy consumer across the world. The United States followed, with more than double the consumption share of India and Russia, the third and fourth-largest consumers worldwide. China’s use of energy Most of the primary energy consumed in China comes from coal, while crude oil is the country’s second most-consumed resource. Primary energy consumption in China has increased four-fold since 2000 and continues to rise each year. Rapid energy plants construction is a major reason for China's rising energy consumption. Sources of primary energy Primary energy comes directly from natural resources, both renewable and non-renewable, and has not yet been subject to transformation through human processes. Fossil fuels such as oil, coal, and gas are the most common types of primary energy sources worldwide. Consumption of renewables such as solar and wind currently remains at a much lower level than that of fossil fuels. For instance, the use of coal alone is three times greater than that of renewable sources. However, global renewable energy consumption has been growing steadily over the past decades.

Among the European countries, primary energy consumption in 2023 was highest in Germany, at 11.4 exajoules. This was followed by France and Turkey. Primary energy is energy taken directly from natural resources such as crude oil, coal and wind. This means primary energy can be either non-renewable or renewable. Fossil fuel consumption highest In 2023, primary energy consumption in the European Union derived mostly from fossil fuels, with oil consumption amounting to around 22 exajoules. In comparison, the consumption of coal for primary energy has been in a steady decline, signaling a shift away from this energy source. The consumption of renewables has been increasing annually during this time period and amounted to nearly 10 exajoules. Global consumption Primary energy consumption is highest in the Asia Pacific region, with consumption in this region amounting to some 292 exajoules in 2023. Globally, China is the largest consumer of primary energy in the world and consumed 170.7 exajoules in 2023.

In 2023, the global landscape of bioenergy reflected a growing commitment to renewable energy sources, in response to the urgent need for more sustainable energy solutions worldwide. As the impacts of climate change have become more pronounced and fossil fuel reserves have dwindled, many more countries worldwide have begun turning to bioenergy as a viable alternative. Who are the major players worldwide? China was the country with the highest bioenergy capacity in 2023, boasting nearly 31.3 gigawatts. China has vast agricultural and forestry resources that provide a steady supply of biomass feedstock for bioenergy production. Brazil followed closely behind, with a bioenergy capacity of 17.6 gigawatts. Brazil's fertile land and favorable climatic conditions for sugarcane production ensure a readily available and cost-effective feedstock for ethanol production. Third in this ranking was the United States, which reached a bioenergy capacity of approximately 11 gigawatts. This production can be attributed to its investment in biomass power plants and the widespread utilization of agricultural waste as a primary resource. What are the concerns? While bioenergy offers several advantages, it is also essential to consider its potential drawbacks. One significant concern is the potential impact on land use. Large-scale bioenergy production requires substantial areas of land, which can lead to deforestation, habitat loss, and competition with food crops. Additionally, the carbon neutrality of bioenergy is often debated. While biofuels are considered renewable, their production and combustion can still release greenhouse gases, especially if not managed sustainably. Furthermore, the intensive use of fertilizers and pesticides in bioenergy crop cultivation may harm ecosystems and water quality.

In 2021, investment in renewable energies in Latin America reached 19.6 billion U.S. dollars. Brazil was by far the country that held the largest share of investments, particularly in the last three years. From 2019 to 2021, renewable investments in Brazil almost doubled, reaching 13.3 billion U.S. dollars in the latter year. Meanwhile, investments in renewable energy in Mexico and Brazil stood at 3.4 and 1.3 billion U.S. dollars in 2021, respectively.

Hydropower was the main source of clean electricity production in Italy. However, the share of renewable energy from hydropower sources shrank in 2022, dropping from 40 percent in the previous years to less than 30 percent. By comparison, photovoltaic and wind energy shares increased. In 2023, Italy's net electricity production from renewable sources amounted to 112.67 terawatt-hours.

Iceland is by far the largest per capita consumer of electricity worldwide, averaging 53.9 megawatt-hours per person in 2023. This results from a combination of factors, such as low-cost electricity production, increased heating demand, and the presence of energy-intensive industries in the country. Norway, Qatar, and Canada were also some of the world's largest electricity consumers per capita that year. China is the leading overall power consumer Power-intensive industries, the purchasing power of the average citizen, household size, and general power efficiency standards all contribute to the amount of electricity that is consumed per person every year. However, in terms of total electricity consumption, a country's size and population can also play an important role. In 2023, the three most populous countries in the world, namely China, the United States, and India, were also the three largest electricity consumers. Global electricity consumption on the rise In 2023, net electricity consumption worldwide amounted to over 27,000 terawatt-hours, an increase of 30 percent in comparison to a decade earlier. When compared to 1980, global electricity consumption more than tripled. On the generation side, the world is still strongly dependent on fossil fuels. Despite the world's renewable energy capacity quintupling in the last decade, coal and gas combined still accounted for almost 60 percent of global electricity generation in 2023.

Qatar has the highest per capita energy consumption worldwide. In 2023, residents in Qatar used an average of 225 megawatt-hours worth of energy - all of which was derived from fossil fuels. Sources of primary energy In 2023, oil and coal were the main fuels used for primary energy worldwide. Except for the Nordic countries and Canada, all other countries listed among the leading 10 consumers sourced energy almost exclusively from fossil fuels. Many of them are also responsible for large oil production shares or the refining thereof. Differences in energy consumption There is a notable disparity between the highest and lowest energy users. Resource-rich countries outside the temperate climate zone tend to use more energy to heat or cool homes and are also more likely to use greater amounts of energy as costs are much lower. For example, electricity prices in oil and gas-producing countries such as Qatar and Saudi Arabia are only a fraction of those of resource-poor countries in Europe. Furthermore, energy consumption disparity is a strong indicator of the different income levels around the world and largely tied to economic prosperity.

Global primary energy consumption has increased dramatically in recent years and is projected to continue to increase until 2045. Only hydropower and renewable energy consumption are expected to increase between 2045 and 2050 and reach 30 percent of the global energy consumption. Energy consumption by country The distribution of energy consumption globally is disproportionately high among some countries. China, the United States, and India were by far the largest consumers of primary energy globally. On a per capita basis, it was Qatar, Singapore, the United Arab Emirates, and Iceland to have the highest per capita energy consumption. Renewable energy consumption Over the last two decades, renewable energy consumption has increased to reach over 90 exajoules in 2023. Among all countries globally, China had the largest installed renewable energy capacity as of that year, followed by the United States.

In 2018, Jordan had the highest share of solar energy consumption in the Middle East and North Africa (MENA) region with 42 percent. In 2016, the renewable energy consumption in Jordan was about four percent of the total energy consumption excluding solid biofuels.

In 2020, the Netherlands had the highest energy consumption per capita in Europe. Residents in the Netherlands had a primary energy consumption of 166.6 gigajoules per capita. By comparison, Germany's primary energy consumption per capita stood at 139.4 gigajoules.

Rooftop solar photovoltaic installations on residential buildings and nuclear power have the highest unsubsidized levelized costs of energy generation in the United States. If it wasn't for federal and state subsidies, rooftop solar PV would come with a price tag between 122 and 284 U.S. dollars per megawatt-hour. Rooftop installations have a higher levelized cost range due to their relatively small capacity when compared with utility-scale power plant facilities. LCOE for solar PV Levelized cost of electricity or energy generation (LCOE) is a measure used to compare cost efficiency of different electricity generating technologies. It describes the average expense of building and maintaining a power plant divided by its total power output over the facility’s lifetime. The global levelized cost of electricity for solar PV averaged 0.04 U.S. dollars per kilowatt-hour in 2023. The economic viability of solar PV installations is dependent on a variety of factors largely centering around topography and the predominant weather pattern at the installation site. In regions with high sunshine duration, installing solar PV would come with lower LCOE’s as electricity production may be higher. As countries may stretch across highly variable topography and even across climate zones, solar PV LCOE may also vary greatly within a country. The U.S. has some of the lowest LCOE’s for utility-scale solar PV. Capital costs by energy technology In terms of capital costs – the one-time expense arising from the purchase of land, construction material, and building of the power plant for new power plants expected to come live in 2028, offshore wind power is the most expensive in the United States. It had an estimated levelized capital costs of roughly 89.6 U.S. dollars per megawatt-hour as of March 2023. Capital costs for solar PV are comparatively low.