2024 has been a transformative year for the energy sector, with key milestones in renewables and decarbonization. Electric vehicles and clean fuels are transforming global transportation. Advancements in green skills and policies reshape global energy systems.

In this article, we’ll explore the key milestones in the energy sector in 2024 and reflect on how they’re shaping a cleaner, more sustainable future for all. 

New Milestone for Clean Energy sector in 2024

In 2024, the global energy sector reached a major milestone. Over 40% of the world’s electricity came from zero-carbon sources. This marked a significant step toward a sustainable energy future. According to BloombergNEF, wind and solar contributed 14% of global electricity. These sources accounted for 91% of new power capacity additions, while fossil fuels contributed only 6%.

Decarbonization Milestones 

For carbon capture and storage (CCS), 2024 is also a breakthrough year. According to The 2024 Global Status of CCS report, the number of CCS facilities in operation globally reached 50, with 44 more under construction and a total of 628 projects in various stages of development—an impressive 60% growth from last year. 

These projects are set to double the world’s CO₂ capture capacity, from 51 million tonnes per year to over 100 million tonnes once the facilities under construction are up and running. For industries like bioenergy, , hydrogen, natural gas, oil refining, power generation, and waste-to-energy, CCS is a crucial technology for reducing emissions, with 79 capture facilities currently operating or under construction. 

Global green skills and workforce development 

According to LinkedIn’s Global Green Skills Report 2024, Global demand for green talent grew twice as quickly as supply between 2023 and 2024—with demand increasing by 11.6% and supply by 5.6%.  

Key areas of rapid development include:

• Building Performance

• Health, Safety, Security, and Environment (HSSE)

• Integrated Supply Chain Management

Skills such as Environmental Protection and Environmental Risk reflect the growing focus on addressing climate challenges. Other notable areas include electrification and wastewater design skills, which are essential for managing resources in a changing climate.  

Policy highlights in 2024 

In 2024, fifteen G20 countries have implemented energy performance standards across key sectors, including power, industry, buildings, transportation, and fuel supply. This is a significant change from 2000, when only 5% of industrial motors were subject to such standards. Today, more than 50% are regulated.  

Since 2023, 35 countries – representing one-fifth of global power sector CO₂ emissions – have adopted new regulations. Notable advances include:

• United States: new fuel economy and emissions standards for cars and trucks. The country also introduced stricter greenhouse gas rules for fossil fuel-fired power plants.

• Australia: established its first vehicle fuel efficiency standards.

• The European Union: set regulations for climate-changing refrigerants, known as F-gases.

• Ukraine: introduced a biofuel blending mandate set to begin in 2025.

Forecast 

From IEA’s forecast, global renewable energy capacity will grow 2.7 times by 2030, exceeding current governmental targets by nearly 25%. Despite this impressive growth, it remains below the tripling required to align with international climate goals. 

Solar photovoltaic (PV) and wind energy will drive the majority of this expansion, accounting for 95% of new capacity additions. Their continued growth is supported by lower costs, new technology, and supportive policies across key industries. Other renewable energy sectors, such as bioenergy and hydropower, are expected to maintain steady contributions, ensuring a diversified renewable energy portfolio. 

However, meeting the necessary targets will require more than capacity additions. The IEA emphasizes the urgent need for accelerated deployment of renewable technologies, significant improvements in grid infrastructure, and stronger policies to support industries in achieving their sustainability goals.  

Conclusion 

In 2024, the whole world achieved incredible progress in the energy transition—let’s keep building on this momentum to create a more sustainable future.