In 2021, the global share of renewable energy sources in TFEC, including traditional uses of biomass, was 18.7 percent as TFEC rebounded after the disruption caused by the pandemic. This share had remained relatively steady over the previous three decades, increasing slowly in 2012–21 (+2.7 percentage points), mainly due to the accelerated deployment of renewables in the electricity sector. Excluding traditional uses of biomass, modern renewable sources only had a 12.5 percent share in TFEC in 2021, despite a doubling of consumption over the preceding 15 years.

However, economic recovery packages in the wake of the Covid-19 pandemic, and in particular the global energy crisis, led many countries to strengthen policy support for renewables since 2022. Thanks to this, renewable power had another record year in 2023.  

Power-sector renewables remain the fastest-growing source of energy worldwide. Hydro remains by far the largest source of renewable power globally meeting 16% of global electricity demand, followed by wind and solar PV. Wind and solar PV have seen the fastest growth rates among renewable electricity sources and together are responsible for more than half of the increase in renewable electricity consumption observed over the past 10 years, with renewables accounting for more than 28.2% of total generation in 2021. Renewable sources of electricity remained resilient during the pandemic, and thanks to energy security policies, registered a record year in 2023, almost 50% higher than 2022.

Modern bioenergy accounts for around 35% of total final renewable energy consumption due to its use as a fuel for heat and transport, and to a lesser extent, power generation. Modern bioenergy figures exclude the traditional uses of biomass, low-efficiency fuelwood, charcoal, and organic waste used for heating and cooking, which is largely concentrated in Asia, sub-Saharan Africa and other developing countries. Traditional uses of biomass, which is a major contributor to household air pollution and related premature deaths, now accounts for 6% of total final energy consumption, down from 9% in 2000. 

Considering current and planned policies in IEA’s STEPS scenario, the share of total final consumption of modern renewables is expected to reach 19% by 2030. This is well below the 33% share needed in 2030 for the world to be on track with the IEA NZE Scenario by 2050. These projections are higher than in previous outlooks because many countries accelerated renewable energy projects as part of their plans to increase energy security amid the energy crisis.

Power-sector renewables remain the fastest growing source of energy globally with renewables annual capacity additions in 2022–30 to more than triple the 2015–21 trends already in the STEPS, thanks to increasing government plans to expand renewables projects. This growth will be driven by solar PV (49%) and wind (37%).

Transport and heat in industry and buildings lead the electrification of energy end uses. Boosting the share of renewables in TFEC to 22% in the STEPS, and 28% in the NZE scenario by 2030.

Achieving the objectives of SDG target 7.2 requires significant acceleration in the reliance on renewable energy. In the Net Zero Emissions Scenario, the share of modern renewables in total final energy consumption increases twice as fast as in the STEPS scenario, reaching 33% by 2030. Electricity generation from renewables, accounts for around 80% of the total increase in the use of modern renewable energy with renewables representing more than 60% of global electricity generation by 2030.

In the NZE Scenario, the share of renewables would increase to nearly 17% in transport and to 31% in total energy consumed for heating in building and industries worldwide by 2030. Traditional use of biomass is phased out completely by 2030, as it gets replaced with more modern and efficient fuels and technologies.