Global installed electricity capacity 2022, by source

In 2022, electricity generation from renewables worldwide had a combined power capacity of over 3.3 terawatts. However, this was still significantly lower than the capacity of all fossil-based energy sources, which stood at 4.57 terawatts. Coal is still the greatest source for electricity generation worldwide, followed by natural gas.

Renewable energy is growing

Despite the continued dominance of fossil fuels, the installed capacity of renewables worldwide has more than doubled in the past decade. The cost of renewables' deployment has fallen over time, making them increasingly more cost-effective and common around the world. Combined with the growing pressure to transition towards low-emission sources, renewable technologies are gradually replacing conventional fossil fuels. 

When will renewables surpass fossil fuels?

Renewable energy capacity is forecast to grow by over 350 gigawatts per year in the next decades, while coal use will be reduced. As a consequence, global renewable electricity generation is projected to surpass that of fossil fuels by 2040.