MOSCOW, January 22. /TASS/. Generation based on renewable energy sources is becoming more economically competitive, turning into a full-fledged vector for the development of global energy, Russian Deputy Prime Minister Alexander Novak wrote in an op-ed for the Energy Policy magazine.
"Total global renewable energy capacity in 2024 was estimated at approximately 3,340 GW, including 2,200 GW of solar and 1,136 GW of wind power plants. Renewable energy is becoming increasingly economically competitive, evolving from a niche sector into a full-fledged vector of global energy development," he said.
From 2010 to 2024, electricity generation from solar and wind power plants increased more than 12-fold, from 0.4 to 4.6 trillion kWh, according to Novak. Meanwhile, the share of renewable energy in the global electricity mix rose from 2% to 15%.
"China played a key role where solar and wind energy production increased almost 43-fold over the same period, from 0.05 to 2 trillion kWh," he added.