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China produced 31% of global renewable electricity, followed by the United States (11%), Brazil (6.4%), Canada (5.4%) and India (3.9%). [1] Renewable investment reached almost $500 billion globally in 2022, [2] amounting to 83% of new electric capacity that year. [3] The renewable energy industry employs almost 14 million people. [4]
The tables list amounts, expressed in million tonnes of oil equivalent per year (1 Mtoe = 11.63 TWh) and how much of these is renewable energy. Non-energy products are not considered here. The data are of 2018. [21] [25] The world's renewable share of TFC was 18% in 2018: 7% traditional biomass, 3.6% hydropower and 7.4% other renewables. [26]
By 2025, Asia is projected to account for half of the world’s electricity consumption, with one-third of global electricity to be consumed in China. [1] This list of countries by electric energy consumption is mostly based on the Energy Information Administration. [2]
Global renewable energy investment growth (1995-2007) [1] In 2020, the global renewable energy market was valued at $881.7 billion [2] and consumption grew 2.9 EJ. [3] China was the largest contributor to renewable growth, accounting an increment of 1.0 EJ in consumption, followed by the US, Japan, the United Kingdom, India, and Germany.
In contrast, controllable renewable energy sources include dammed hydroelectricity, bioenergy, or geothermal power. Percentages of various types of sources in the top renewable energy-producing countries across each geographical region in 2023. Renewable energy systems have rapidly become more efficient and cheaper over the past 30 years. [3]
Progress of current energy transition to renewable energy: Fossil fuels such as coal, oil, and natural gas still remain the world's primary energy sources, even as renewables are increasing in use. [28] An energy transition (or energy system transformation) is a major structural change to energy supply and consumption in an energy system.