Global Shift Toward Renewable Energy Marks Historic Decline in Fossil Fuel Use

Renewables reached a record 30% of global electricity production last year, signaling a pivotal shift in energy sources.

Renewable energy sources, primarily solar and wind, are set to reduce fossil fuels' market share by 2% this year, a trend expected to accelerate.
Ember's report highlights a significant increase in renewable capacity, with a forecasted addition of 1,221 terawatt hours in 2024.
China leads the global transition, installing half of the world's solar panels and 60% of its wind turbines last year.
Economic factors like a 50% drop in solar panel prices and technological advances are driving the rapid expansion of renewables.
The transition challenges traditional energy industries, with potential disruptions to natural gas markets and existing infrastructure.