Renewable Energy Sources Comparison Infographic

Renewable energy sources are transforming the global power grid as costs fall and deployment accelerates across every continent. Solar photovoltaic and onshore wind are now the cheapest sources of new electricity generation in most markets, with levelized costs below $0.05 per kilowatt-hour in optimal conditions. Hydropower remains the largest renewable contributor globally, supplying approximately 16 percent of world electricity, though new project development is limited by geography and environmental concerns

Geothermal provides reliable baseload power with capacity factors exceeding 90 percent but is restricted to tectonically active regions. Corporate power purchase agreements for renewable energy exceeded 50 gigawatts globally in 2024, signaling strong private-sector demand beyond government mandates. Biomass offers dispatchable renewable energy but raises sustainability questions around land use and emissions from combustion

Global renewable capacity additions reached 510 gigawatts in 2024, with solar accounting for roughly 75 percent of new installations. Energy storage paired with renewables is growing rapidly, with battery costs falling 89 percent since 2010. Offshore wind capacity is projected to grow tenfold by 2030 in leading markets including Europe and Asia-Pacific

By 2030, renewables are projected to supply over 42 percent of global electricity, up from 30 percent today, driven by policy mandates and corporate procurement commitments.