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Energy Mix

New wind and solar installations outpaced all other additions to the global energy mix in 2023, and clean energy investments are projected to exceed US$2 trillion in 2024, accounting for two-thirds of global energy investment.

The significant wind and solar gains are among several “record highs in an energy hungry world”, listed in the most recent Statistical Review of World Energy, which oil major BP published for decades before handing over the reins to the Energy Institute last year.

According to the review, 2023 saw “record consumption of fossil fuels and record emissions from energy, but also record generation from renewables, driven by increasingly competitive wind and solar energy.”