AND IT'S ONLY GETTING CHEAPER:

Globally, renewables account for about one third of electricity generation--and that share is rising. In 2022 renewable generation capacity grew by a record 295 gigawatts, according to the International Renewable Energy Agency (IRENA). Further, renewables accounted for more than 80 percent of all added power capacity last year, the agency reported.

Last year renewables produced more electricity than coal-powered plants for the first time in the U.S. Wind and solar now produce about 14 percent of the country's electricity, up from virtually nothing just 25 years ago. The U.S. Energy Information Administration expects that more than half of electric generation capacity added to the nation's grid in 2023 will be from solar energy.

Credit: Amanda Montañez; Source: International Energy Agency

The main reason renewable energy has grown so much in recent years is a dramatic decline in the expense of generating solar and wind power. 

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