Global renewable energy efforts have taken center stage, reflecting the urgent priority of sustainable solutions amid growing demand for energy worldwide. During 2024, countries have seen remarkable growth and transformations within their energy sectors, particularly as they pivot away from traditional fossil fuels to embrace cleaner alternatives.
Leading the charge is Germany, which reported significant advancements toward renewable energy integration. According to the Federal Network Agency, renewables accounted for 59% of the country's total electricity generation by the end of 2024, up from 56% the previous year. Wind energy emerged as the cornerstone of Germany's electrification, contributing 31.9% to the national energy mix, alongside 14.7% from solar energy. This was particularly notable as 2024 marked the first year without nuclear power, following the final shutdown of its nuclear plants back in April 2023.
Despite experiencing a 0.9% increase in electricity consumption, Germany’s total power generation fell by 4.2% to 431.7 TWh. This decline occurred alongside decreased output from conventional energy sources, particularly lignite and natural gas, which accounted for 16.4% and 13.2% of the energy mix, respectively.
The country has set ambitious targets, aiming for renewable energy to constitute 80% of its energy supplies by 2030 and planning to phase out coal completely by 2035. An overall increase of 1.8% occurred throughout the share of renewables indicates the extensive efforts of the nation to combat climate change effectively.
Across the English Channel, Britain also made impressive strides toward clean energy, with renewable sources constituting 45% of its electricity production. A significant milestone was achieved when the last coal-fired power station closed its doors back in October 2024, marking Britain as the first G7 nation to fully eliminate reliance on coal for electricity. The UK's energy regulator indicated improvements as renewable energy continued its rise, with oil and gas together generating 29% of the country’s electricity.
Notably, the Labour government of the UK revealed plans to ban new coal mines, emphasizing the continuous shift toward sustainable practices.
On the other side of the globe, Iran is also ramping up its renewable energy ambitions. The country’s deputy energy minister, Mohsen Tarztalab, announced plans to increase its renewable capacity from the current 1,450 megawatts to 4,800 megawatts by March 2025. These exciting efforts align with expectations for global transitions, predicting by 2050, more than half of total energy consumption worldwide will come directly from electricity, particularly from renewable sources.
Tarztalab emphasized the urgent need for collaboration with the private sector to correct existing energy imbalances. Evaluations indicated Iran's potential for generating 20,000 MW of wind energy and 800 MW of biomass energy. While these ambitions are promising, it's important to recognize the challenges faced; as of 2020, Iran had only produced 8.0 GW of renewable energy, highlighting the disparity between its capacity for production and its actual output.
Meanwhile, the interconnectedness of African nations is continuously developing, with the Ethiopia-Kenya Electricity Highway being one of the latest projects supported by the World Bank. Following similar models, the highway aims to bolster energy delivery between countries and address rising electricity demands through continued collaborative initiatives. The Eastern African Power Pool (EAPP) oversees this and aims to connect multiple regional energy supplies. Their ambitious targets involve linking Tanzania’s energy capacity to Zambia through existing interconnection infrastructure.
One of the promising aspects of 2024 was also seen within Europe, where the main electricity markets recorded the lowest yearly prices since 2021. Most prices fell below €80/MWh, largely due to decreased gas prices and lower CO2 allowance prices. Records also indicated solar photovoltaic energy achieved its highest production levels across all markets, with wind energy production also hitting record numbers in Portugal.
Data compiled by AleaSoft Energy Forecasting highlighted how the European markets, combined with increasing demands, showcased the collective drive toward more competitive pricing and enhanced productivity within renewable energy sectors.
The move toward renewables is not just beneficial for the environment, but it also enhances energy security and introduces more fluctuable pricing structures, reducing the reliance on traditional energy sources. The collective commitment demonstrated by Germany, Britain, Iran, and various African nations encapsulates the determination of countries around the world to redefine their energy landscapes.
Transformation within the global energy market serves as more than just numbers; it symbolizes hope and innovation as various nations collaborate toward sustainable practices. Establishing renewable infrastructures, embracing technologies, and committing to continuous improvements resonates as core tenets of 2024's energy narrative. Countries are not merely striving to meet energy demands but to reshape their futures and the global environment for generations to come.