Solar and wind generation will soon pass nuclear, hydro
Solar and wind together account for 80% of net global electricity generation additions in 2023. The growth in generation comes from annual increases in electricity generation.
Over the past decade, global solar generation has grown nine-fold to 1,500 TWh per year, while wind generation has tripled to 2,300 TWh per year. This equates to compound annual growth rates of 22% and 11%, respectively. This compares to growth rates of about 1% per year for hydro, nuclear, and coal, and 3% for gas.
Solar’s 22% annual growth rate equates to doubling every 3 years. At this rate, solar generation would reach 100,000 TWh per year by 2042, enough to fully decarbonize the global economy.
The leading countries in solar and wind generation per capita are all in Europe. Together, the leading countries generate four times more solar and wind than hydro and nuclear combined worldwide.
