Share of renewable energy sources

According to reports from the International Energy Agency (World Energy Outlook 2022), BP Energy Outlook 2022, and BNEF (Power Transition Trends 2022), there is a change in energy demand structure, with the share of fossil fuels gradually decreasing to make way for growing renewable energy.

According to various international agencies, in 2021, the share of renewable sources of energy in electricity production was in the range of 21-28%.

Since the beginning of the 21st century, the share of alternative energy sources in the total balance of electricity production has been around 17% and remained unchanged until 2008. However, since 2008, there has been an annual increase in the share of renewable energy in global electricity production.

Source: enerdata.net

At the same time, electricity production from alternative energy sources has an uneven character worldwide. 

Source: IRENA. Note: white marked countries for which data is missing

For example, some countries in the world have a share of renewable energy in electricity production of more than 70%, while others are less than 5%.

For instance, from 2000 to 2021 there has been a fourfold increase in installed capacity of renewable energy sources worldwide. The average annual growth rate during this period was 6.9% (on average).

Source: IRENA

However, from 2000 to 2021 the largest growth was achieved by wind energy (offshore and onshore) and solar energy (photovoltaics and concentrating stations), as the installed capacity of wind power plants increased 49 times, while solar energy increased 691 times during this period. The increase in solar energy capacity is due to a reduction in capital expenditures for project implementation.

Source: IRENA