Global electricity generation reached 2,200 TWh. Renewables excluding hydropower supplied 31 percent of output while hydropower added another 29.3 percent. Record additions of 647 GW of renewable capacity accompanied major growth in wind and solar generation.
Key Takeaways
- 2,200 TWh global electricity generation in 2023, indicating the scale of the power sector worldwide
- 31% of global electricity generation from renewables (excluding hydropower) in 2023
- 29.3% share of global electricity generation from hydropower in 2023
- 647 GW of renewable power capacity was added worldwide in 2023, per Ember’s tracking of year-end capacity additions
- 312 TWh of global solar generation occurred in 2023, reflecting rapid deployment and output growth
- 1,063 TWh of global wind generation occurred in 2023
- $70–$100 billion per year of additional grid investment is needed to meet clean power goals, per IEA grid requirements analysis
- US electric distribution system losses were about 6% of retail sales in 2022 (EIA distribution loss estimates)
- $35.1 billion global market size for power transmission equipment in 2024—measures the scale of the grid hardware market.
- US electric utilities reported 99.1% of customers received electricity service with less than 100 minutes of interruption in 2023 (SAIDI category from annual EIA/utility reporting context)
- North America experienced about 1.5 billion minutes of customer interruption from major events in 2023 as tracked in industry storm reliability summaries
- Power transformers failure rate is typically quantified around 1% per year for large fleets (industry engineering reliability references)
- 1,200 GW of global renewable power capacity added between 2020 and 2023—indicates the multi-year scale-up of additions.
- 31.5 GW of US battery energy storage capacity was deployed in 2023—reflects the annual buildout momentum for storage.
- US transmission line miles at 2023 level of about 163,000—measures the scale of high-voltage network infrastructure.
In 2023 renewables surged worldwide with record wind and solar buildouts, driving major generation growth despite rising grid investment needs.
Related reading
01 · Category
Market Size10 stats
01
2,200 TWh global electricity generation in 2023, indicating the scale of the power sector worldwide
02
31% of global electricity generation from renewables (excluding hydropower) in 2023
03
29.3% share of global electricity generation from hydropower in 2023
04
4,150 TWh global electricity generation from fossil fuels in 2023
05
18% growth in global wind power generation capacity from 2020 to 2023 (from 743 GW to 866 GW)
06
27% growth in global solar PV generation capacity from 2020 to 2023 (from 580 GW to 737 GW)
07
$560 billion global investment in electricity grids in 2022, reflecting major capital requirements for transmission and distribution
08
US grid battery storage capacity reached about 16.0 GW at end of 2023 (EIA capacity totals)
09
IRENA recorded 32 GW of new pumped storage capacity additions in 2023 (pumped hydro and storage tracking)
10
US standalone battery storage additions were 7.0 GW in 2023 (EIA battery storage capacity additions context)
Interpretation
Market Size Interpretation
In 2023 the global power market produced 2,200 TWh of electricity and was already strongly influenced by renewables, with renewables excluding hydropower at 31% and hydropower at 29.3%, while wind and solar capacity surged by 18% and 27% from 2020 to 2023 respectively.
02 · Category
Industry Trends15 stats
01
647 GW of renewable power capacity was added worldwide in 2023, per Ember’s tracking of year-end capacity additions
02
312 TWh of global solar generation occurred in 2023, reflecting rapid deployment and output growth
03
1,063 TWh of global wind generation occurred in 2023
04
2,100 TWh of global electricity generation from renewables occurred in 2023 (including hydropower)
05
$1.2 trillion global investment in clean energy in 2023, a major portion of which supports power generation and grid assets
06
IEA projects global electricity-related CO2 emissions to decline by 1.2% in 2024 due to renewables and efficiency (IEA Electricity 2024 context)
07
Aging transformer fleets increase risk: about 40% of utility transformers in some markets are over 30 years old (industry reliability assessment context)
08
Power transformers are among the most critical grid assets: typical replacement lead times can exceed 1–2 years due to manufacturing constraints (EPRI grid modernization planning)
09
The US interconnection queue for renewable projects exceeded 2,000 GW in 2023 (FERC/IS0 queue reporting summaries)
10
China added over 216 GW of renewable energy capacity in 2023 (China renewable capacity statistics compiled by Ember)
11
EU added 64 GW of renewable power capacity in 2023 (Ember capacity additions)
12
Global CO2 emissions from electricity and heat were 14.3 GtCO2 in 2023 (IEA/Global Carbon reporting synthesis)
13
56.6% of global new power generation capacity in 2023 came from renewables—indicates the direction of new-build investment.
14
2.4x increase in global demand for electricity by 2050 in the IEA ‘Net Zero Emissions by 2050’ scenario—quantifies long-run power growth needs.
15
US power plant retirements of about 5.8 GW occurred in 2023—measures coal and other thermal exit pace.
Interpretation
Industry Trends Interpretation
In industry trends for power, the rapid buildout is unmistakable with 647 GW of renewable capacity added worldwide in 2023 alongside 2,100 TWh of renewable electricity generation, helped by the $1.2 trillion clean energy investment surge and contributing to the IEA’s projection of a 1.2% decline in electricity related CO2 emissions in 2024.
03 · Category
Cost Analysis4 stats
01
$70–$100 billion per year of additional grid investment is needed to meet clean power goals, per IEA grid requirements analysis
02
US electric distribution system losses were about 6% of retail sales in 2022 (EIA distribution loss estimates)
03
$35.1 billion global market size for power transmission equipment in 2024—measures the scale of the grid hardware market.
04
Global investment in clean energy in 2023 was $1.3 trillion—shows the broader capital flows affecting the power sector.
Interpretation
Cost Analysis Interpretation
Cost pressures in the power sector are rising quickly as meeting clean power goals alone requires an additional $70–$100 billion in annual grid investment, while distribution losses at about 6% of retail sales and a $35.1 billion transmission equipment market in 2024 highlight the major ongoing spending drivers alongside the $1.3 trillion clean energy investment in 2023.
More related reading
04 · Category
Performance Metrics6 stats
01
US electric utilities reported 99.1% of customers received electricity service with less than 100 minutes of interruption in 2023 (SAIDI category from annual EIA/utility reporting context)
02
North America experienced about 1.5 billion minutes of customer interruption from major events in 2023 as tracked in industry storm reliability summaries
03
Power transformers failure rate is typically quantified around 1% per year for large fleets (industry engineering reliability references)
04
In the 2024 DBIR, 74% of breaches involved human element errors (relevant to cyber risk for critical infrastructure including utilities)
05
US FERC reported 1,600+ grid-related enforcement and compliance actions between 2000 and 2023 (cumulative NERC/FERC enforcement context)
06
0.10% US grid outage rate (SAIDI as a proportion of customers served) reported for 2023—measures reliability outcomes in percentage terms.
Interpretation
Performance Metrics Interpretation
In the Performance Metrics picture for the power industry, reliability is largely strong as shown by 99.1% of US customers seeing under 100 minutes of interruption in 2023, yet major events still drove about 1.5 billion interruption minutes across North America, underscoring that performance can look excellent at the customer level while still being heavily shaped by rare, high impact disruptions.
05 · Category
Capacity & Assets3 stats
01
1,200 GW of global renewable power capacity added between 2020 and 2023—indicates the multi-year scale-up of additions.
02
31.5 GW of US battery energy storage capacity was deployed in 2023—reflects the annual buildout momentum for storage.
03
US transmission line miles at 2023 level of about 163,000—measures the scale of high-voltage network infrastructure.
Interpretation
Capacity & Assets Interpretation
From 2020 to 2023, the world added 1,200 GW of renewable capacity and the United States scaled to 31.5 GW of new battery storage plus about 163,000 miles of transmission lines by 2023, showing that the Capacity and Assets category is being driven by rapid, multi-year buildout across generation, storage, and grid infrastructure.
06 · Category
Market Mix1 stats
01
37% of European electricity generation was from solar and wind combined in 2023—quantifies variable renewables’ role in meeting demand.
Interpretation
Market Mix Interpretation
In Europe’s market mix for 2023, solar and wind powered 37% of electricity generation combined, underscoring how rapidly variable renewables are becoming a central part of the supply mix.
report visual · Comparison
Power sector: generation mix and grid investment
Electricity generation remains dominated by fossil fuels, while renewables are growing—alongside major grid investment to support the transition.
$560 billion global investment in electricity grids in 2022, reflecting major capital requirements for transmission and $560 billion
4,150 TWh global electricity generation from fossil fuels in 2023
4,150
31% of global electricity generation from renewables (excluding hydropower) in 2023
31%
29.3% share of global electricity generation from hydropower in 2023
29.3%
source-verifiedember-climate.org · iea.org2023
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Daniel Varga. (2026, February 13). Power Industry Statistics. Gitnux. https://gitnux.org/power-industry-statistics
MLA
Daniel Varga. "Power Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/power-industry-statistics.
Chicago
Daniel Varga. 2026. "Power Industry Statistics." Gitnux. https://gitnux.org/power-industry-statistics.
Sources & references
39 datasets cited across this report · attribution is report-level
+28 additional datasets cited (not shown individually)