Renewables 2024 Global Status Report: Energy Systems and Infrastructure

This module explores the status and recent trends of some of the building blocks of the energy system, as well as technology advancements that are enabling the integration of higher shares of variable renewable electricity. Global electricity demand increased 27% between 2013 and 2023, putting pressure on existing power grids. In many locations, distributed generation is growing faster than grid capacity. Utility-scale battery storage grew 120% in 2023. Pumped storage remains the most common solution for large-scale utility storage. Investment in hydrogen increased 203% in 2023 to reach USD 10.4 billion. The bulk of hydrogen production worldwide continues to come from fossil fuel sources.