Global consumption of renewable energy has increased significantly over the last two decades. Consumption levels nearly reached 90.23 exajoules in 2023. This upward trend reflects the increasing adoption of clean energy technologies worldwide. However, despite its rapid growth, renewable energy consumption still remains far below that of fossil fuels. Fossil fuels still dominate energy landscape While renewable energy use has expanded, fossil fuels continue to dominate the global energy mix. Coal consumption reached 164 exajoules in 2023, marking its highest level to date. Oil consumption also hit a record high in 2023, exceeding 4.5 billion metric tons for the first time. Natural gas consumption has remained relatively stable in recent years, hovering around 4 trillion cubic m annually. These figures underscore the ongoing challenges in transitioning to a low-carbon energy system. Renewable energy investments The clean energy sector has experienced consistent growth over the past decade, with investments more than doubling from 263 billion U.S. dollars in 2014 to 619 billion U.S. dollars in 2023. China has emerged as the frontrunner in renewable energy investment, contributing 273 billion U.S. dollars in 2023. This substantial funding has helped propel the renewable energy industry forward.

Global consumption of renewable energy has increased significantly over the last two decades. Consumption levels nearly reached ***** exajoules in 2024. This upward trend reflects the increasing adoption of clean energy technologies worldwide. However, despite its rapid growth, renewable energy consumption still remains far below that of fossil fuels. Fossil fuels still dominate energy landscape While renewable energy use has expanded, fossil fuels continue to dominate the global energy mix. Coal consumption reached *** exajoules in 2023, marking its highest level to date. Oil consumption also hit a record high in 2024, exceeding *** billion metric tons for the first time. Natural gas consumption has remained relatively stable in recent years, hovering around **** trillion cubic meters annually. These figures underscore the ongoing challenges in transitioning to a low-carbon energy system. Renewable energy investments The clean energy sector has experienced consistent growth over the past decade, with investments more than doubling from *** billion U.S. dollars in 2014 to *** billion U.S. dollars in 2023. China has emerged as the frontrunner in renewable energy investment, contributing *** billion U.S. dollars in 2023. This substantial funding has helped propel the renewable energy industry forward.