Fossil fuels remain the greatest source of electricity generation worldwide. In 2024, coal accounted for roughly **** percent of the global power mix, while natural gas followed with a ***** percent share. China, India, and the United States accounted for the largest share of coal used for electricity generation. The future of renewable energy Fossil fuel use notwithstanding, the share of renewables in global electricity has seen a more pronounced year-on-year growth in recent years, following increased efforts by governments to combat global warming and a decrease in levelized costs. Projections indicate that renewables will surpass fossil fuels as the main power source by 2040. Electricity consumption in the world China is the largest electricity consumer in the world, requiring almost ***** terawatt-hours of electricity every year. However, this economic power accounts for the largest population in the world and its electricity consumption per capita is almost tenfold smaller than the consumption of Iceland, although the power used in this country came almost completely from clean sources.

Coal has been the main source of electricity generation worldwide for the last three decades. In 2023, global coal power generation stood at almost 10,500 terawatt-hours. Overall, coal, natural gas, and other fossil fuels accounted for approximately 60 percent of the global electricity production that year. Renewable energy sources of electricity generation The production of renewable energy has been increasing steadily over the past decades, with solar and wind energy showing the largest year-over-year growth between 2022 and 2023. However, the contribution of renewables to the world’s electric power mix remains small when compared to fossil fuel sources. Electricity demand vs production The volume of electricity generated worldwide surpassed the global consumption of electricity by a small margin. This figure is directly affected by the fact that the number of people without access to electricity in the world has shrunk over the past decade and is continuously decreasing.

It is projected that electricity generated worldwide will increase by nearly ** percent in the coming three decades, to reach some ** thousand terawatt-hours by 2050. That year, renewables are expected to be the largest source of global electricity, accounting for some ** percent of electric power produced. The boom of renewables Electricity generation from renewable sources is expected to experience the largest growth in the displayed period, almost tripling between 2022 and 2050. The past decade saw the beginning of a boom in global installed renewable capacity, which recently surpassed ***** terawatts. In 2021, Asia was the region with the largest renewable electricity production, at *** petawatt-hours. Electricity from fossil fuels Conventional sources like coal are increasingly being replaced. After peaking at more than ** percent in 2007, the fossil fuel share in the global power generation has decreased steadily ever since. However, in 2022, coal was still the largest source of electricity generation worldwide, with a share of ** percent.

In 2023, electricity generation from renewables worldwide had a combined power capacity of over 3.8 terawatts. However, this was still significantly lower than the capacity of all fossil-based energy sources, which stood at 4.67 terawatts. Coal is still the greatest source for electricity generation worldwide, followed by natural gas. Renewable energy is growing Despite the continued dominance of fossil fuels, the installed capacity of renewables worldwide has more than doubled in the past decade. The cost of renewables' deployment has fallen over time, making them increasingly more cost-effective and common around the world. Combined with the growing pressure to transition towards low-emission sources, renewable technologies are gradually replacing conventional fossil fuels. When will renewables surpass fossil fuels? Renewable energy capacity is forecast to grow by over 350 gigawatts per year in the next decades, while coal use will be reduced. As a consequence, global renewable electricity generation is projected to surpass that of fossil fuels by 2040.

Global electricity generation has increased significantly over the past three decades, rising from less than 12,000 terawatt-hours in 1990 to over 30,000 terawatt-hours in 2024. During this period, electricity generation worldwide only registered an annual decline twice: in 2009, following the global financial crisis, and in 2020, amid the coronavirus pandemic. Sources of electricity generation The share of global electricity generated from clean energy sources –including renewables and nuclear power- amounted to almost 40 percent in 2024, up from approximately 32 percent at the beginning of the decade. Despite this growth, fossil fuels are still the main source of electricity generation worldwide. In 2024, almost 60 percent of the electricity was produced by coal and natural gas-fired plants. Regional differences Water, wind, and sun contribute to making Latin America and the Caribbean the region with the largest share of renewable electricity generated in the world. By comparison, several European countries rely on nuclear energy. However, the main electricity sources in the United States and China, the leading economic powers of the world, are respectively natural gas and coal.

In recent years, scrutiny over the environmental impact of more traditional energy sources has translated into a rapid growth of renewables. The share of energy from renewable sources used in electricity generation worldwide has been rising annually, reaching roughly **** percent in 2024. Increasing capacity and production As renewable shares continue to grow, so does the installed capacity. Since 2010 the cumulative renewable energy capacity has risen from *** terawatts to *** terawatts in 2024. Renewable electricity production has also increased significantly, rising to *** petawatt hours in 2022. Despite this impressive and steady growth, the consumption of renewable energy still pales in comparison when compared to fossil fuel energy consumption. Consumption on the rise In the past two decades, global consumption of renewables has risen from just ** exajoules in 2000, to over ** exajoules in 2023. Globally, both China and the United States are the leading consumers of renewable energy, with a combined consumption of ** exajoules.

Oil is the greatest source of primary energy supplied worldwide. In 2019, 30.9 percent of all energy produced in the world was oil-based. In 1973, this share stood at close to 50 percent. In the years since, the shares of natural gas and nuclear energy have seen the most pronounced growth.

As of 2024, China was the largest producer of electricity globally by a significant margin with over ***petawatt-hours generated, followed by the United States with *** petawatt-hours. Both countries generated a considerable amount more than the next highest producer, India, where almost *** petawatt-hours were produced. Coal and natural gas remain the primary sources of energy worldwide, maintaining a high global reliance on fossil-based fuels. For instance, natural gas was the largest source of electricity generation in the U.S. in 2023, followed by renewables.

Global expansion of electricity networks Energy networks have been undergoing expansion and modernization to tackle challenges such as the climate crisis and a growing global population through electrification. As a result of this, there has been significant growth in electricity access, with almost *** million more people gaining access to energy networks worldwide in 2022, of which ** million were in Central and Southern Asia. With increased electricity access, a growth in electricity production will become necessary.

Transitioning towards renewables Use of both coal and renewable electricity has grown worldwide, particularly in the European Union and China, where the largest year-on-year change in coal and renewable generation was recorded in 2023. As part of its increase in power generation, China has the largest share of clean electricity capacity installed by country worldwide, amounting to approximately **** terawatts.

The global electricity generation capacity is expected to almost double in the next three decades, surpassing 31 terawatts by 2050. In 2023, the world's installed electricity capacity stood at 9.4 terawatts.

Asia and Oceania produced over 4,000 terawatt-hours of emission-free electricity in 2022, with renewables accounting for some 3,900 terawatt-hours. North America was the region producing the most nuclear electricity at the time, at 864 terawatt-hours.

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.

China sources most of its electricity from coal. In 2023, fossil fuels made up ** percent of the total electricity in the country. Despite continuing to expand its coal power plant fleet, China has recently redirected its investment efforts towards clean energy initiatives with the aim of reducing pollution and emission levels. From fossil to the future As the largest global polluter, China has designated the development of renewable energy sources as a major objective of its economic policies. Already, the country produced the most renewable energy worldwide. However, as the second-largest economy, it was also the biggest energy consumer, attributed to its population numbers and a large manufacturing sector. According to the China Electricity Council, a national trade organization, the combined capacity of wind and solar power was going to exceed the projected coal power supply in 2024. Long-distance relationship One of the greatest obstacles to the green energy transition in the PRC is the distance between the green energy sources and its consumers. In general, the country has favorable conditions for the installation of wind and solar power, as the northwestern regions are not only abundant in wind and sun but also host China's hydroelectric dams. Nonetheless, most individuals and institutions lack awareness. However, most people and industry are in the country’s coastal provinces, many thousands of kilometers away. As a result, the country has built the world’s leading ultra-high-voltage electricity transmission system, which allows the transmission of energy over large distances. The longest transmission circuit in China exceeds 2,000 kilometers.

In 2023, production of renewable energy was higher in Asia than any other region at over four petawatt hours in total that year. Europe and North America followed as top generators of renewable energy, though in each region, production was less than half that of Asia. Renewable energy in China High production of renewable energy in Asia comes in part from the region’s high energy demand, with China alone accounting for over a ******* of total global primary energy consumption. While the country is home to the largest installed capacity of renewable energy in the world, including sources such as hydro, solar, and wind power, the current production of renewables is not enough to meet China’s exceptionally high energy demands. Electricity from renewables Since 2008, renewable energy has become an increasingly common source of electricity. In Europe especially, the wind-power sector has seen significant developments over the past decade, with electricity consumption from offshore wind in the European Union predicted to be over *** times higher in 2020 than in 2010. As of 2018, roughly a ******* of total electricity generated worldwide comes from renewable resources.

Fossil fuels remain the greatest source of electricity generation worldwide. In 2023, coal accounted for roughly 35.5 percent of the global power mix, while natural gas followed with a 23 percent share. China, India, and the United States accounted for the largest share of coal used for electricity generation. The future of renewable energy Fossil fuel use notwithstanding, the share of renewables in global electricity has seen a more pronounced year-on-year growth in recent years, following increased efforts by governments to combat global warming and a decrease in levelized costs. Projections indicate that renewables will surpass fossil fuels as the main power source by 2040. Electricity consumption in the world China is the largest electricity consumer in the world, requiring more than 8,000 terawatt-hours of electricity every year. However, this economic power accounts for the largest population in the world and its electricity consumption per capita is almost tenfold smaller than the consumption of Iceland, although the power used in this country came almost completely from clean sources.

In 2021, the Asia-Pacific (APAC) countries were the global leader for energy production, at almost **** terawatt-hours, followed by Europe with *** terawatt-hours. Power generation is expected to increase in every world region by 2027. The most notable growth during that timeframe is expected in the APAC region, which is expected to increase by almost ** percent in only 6 years. Contribution of the renewable energy sector A significant global growth in energy production from renewable sources will play a key role in the power generation sector over the next decades. Hydropower in the near term, and solar and wind energy after 2030 are projected to account for the largest installed renewable energy generation capacity worldwide. Distribution transformer market The growing global energy sector will require adequate infrastructure upgrades as time goes on. Transmission and distribution equipment, including distribution transformers – the service adapting the voltage of the electricity distributed in the grid to the power facilities of customers, is an important aspect of this. The APAC countries are forecast to dominate the distribution transformer market by 2027, with an expected market share of over ** percent.

In 2024, global power generation increased by **** percent compared to the previous year. Electricity generation from wind and solar saw the largest year-on-year increases at more than ** percent, of which solar alone accounted for ***** percent.

Hard coal is the most produced non-renewable energy source. In 2023, hard coal accounted for a ***** percent share of worldwide non-renewable energy production. This was closely followed by crude oil, which made up a ***** percent share. Before 2023, crude oil was the most produced non-renewable energy source.

The leading countries for installed renewable energy in 2024 were China, the United States, and Brazil. China was the leader in renewable energy installations, with a capacity of around 1,827 gigawatts. The U.S., in second place, had a capacity of around 428 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 in 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 Canada.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 Brazil 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.

Since 2009, global solar energy production continuously rose to its peak, at over one petawatt hours in 2022. This represents an increase of roughly 25.6 percent from the previous year. Overall, figures increased by more than one petawatt hours in the period of consideration.

China consumes by far the most electricity of any country in the world, with almost 9,000 terawatt-hours equivalent consumed in 2024. The United States ranked as the second-leading electricity consumer that year, with over 4,000 terawatt-hours consumed. India followed, but by a wide margin. Production and consumption disparities China not only leads countries in electricity generation worldwide, it also dominates production, generating over 10 petawatt-hours annually. The United States follows with 4.6 petawatt-hours, significantly more than its consumption of 4,065 terawatt-hours. This disparity underscores the complex relationship between production and consumption, influenced by factors such as energy efficiency, export capabilities, and domestic demand. The global expansion of electricity networks, particularly in Central and Southern Asia, is driving increased production to meet growing access and demand. Shifting energy landscapes The United States, as the second-largest consumer, is experiencing a significant shift in its energy mix. Coal-based electricity has declined by nearly 65 percent since 2010, giving way to natural gas and renewable sources. This transition is evident in recent capacity additions, with renewable energy sources accounting for over 90 percent of new electricity capacity in 2024. The surge in renewable generation, particularly wind power, is reshaping the U.S. energy landscape and influencing consumption patterns. As renewable energy consumption is projected to more than double by 2050, the electricity market is adapting to these changing dynamics.