Published: 11th May, 2024
Context
India has emerged as the world's third-largest solar power generator in 2023, surpassing Japan, according to Global Electricity Review 2024 report. Solar energy's contribution to global electricity hit a record 5.5%, with India's solar generation reaching 5.8% of its total electricity production.
Key Highlights of the Report:
- India's Solar Power Ranking: India overtakes Japan to become the third-largest solar power generator globally, with solar energy contributing significantly to its electricity generation.
- Global Renewable Energy Usage: Renewable energy, including wind and solar, now accounts for over 30% of global electricity, with clean energy sources, including nuclear power, comprising nearly 40% of total global electricity generation.
- Carbon Intensity Reduction: The surge in renewable energy has led to a 12% decrease in the carbon intensity of global electricity since 2007.
- Solar Energy Growth: Despite challenges like reduced hydropower production due to drought conditions, solar energy remains the fastest-growing electricity source globally for the 19th consecutive year. Solar added double the new electricity capacity compared to coal in 2023.
- India's Solar Generation Increase: India's solar generation increased by 18 terawatt-hours (TWh) in 2023, positioning it fourth globally behind China, the United States, and Brazil. These four nations contributed 75% of the global increase in solar generation.
- Global Solar Generation Growth: Global solar generation in 2023 was over six times higher than in 2015.
Fact BoxIndia’s Ambitious Goals to combat Climate Change
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