In Short : In May 2024, electricity production in India saw a 3.7% increase, largely driven by renewable energy sources. This growth reflects the nation’s ongoing shift towards greener energy alternatives, with solar and wind power playing a significant role in boosting overall electricity generation. The increase underscores India’s commitment to expanding its renewable energy capacity and reducing its carbon footprint.
In Detail : The International Energy Agency (IEA) has reported that global net electricity production reached 854.4 terawatt-hours (TWh) in May 2024, marking a 3.7 percent increase compared to the same period last year. This growth was largely fueled by a surge in renewable energy generation, which saw a 6.6 percent year-on-year increase.
Solar power was the standout contributor among renewables, with a remarkable 19.7 percent growth compared to May 2023, IEA report said.
However, hydropower generation remained relatively unchanged with a slight decrease of 0.2 percent year-on-year. This stability was the result of contrasting trends across regions, with significant declines in hydropower in the OECD Americas (-11.6 percent) and OECD Asia-Oceania (-9.3 percent) being counterbalanced by a strong recovery in OECD Europe (+16.8 percent).
The share of renewable energy in the OECD electricity mix rose to 39.4 percent, one percentage point higher than in May 2023.
Electricity production from fossil fuels saw a modest increase of 0.5 percent year-on-year. Despite cut in fossil fuel generation in OECD Europe (-11.4 percent) and OECD Asia-Oceania (-5.5 percent), these were offset by a 6.6 percent increase in the OECD Americas, primarily due to a 6.9 percent rise in natural gas-fired electricity production.
Overall, fossil fuels accounted for 43.4 percent of total OECD electricity generation in May 2024, down 1.4 percentage points from the previous year.
Nuclear power also contributed to the overall increase, with a 5.5 percent year-on-year rise in electricity generation.
Notably, nuclear power generation in OECD Asia-Oceania saw a significant 14.1 percent increase, while OECD Europe and the OECD Americas registered growths of 5.5 percent and 3.1 percent respectively. The share of nuclear power in the OECD electricity mix remained stable at 16.7 percent.
In OECD Europe, total net electricity production reached 266.4 TWh in May 2024, representing a 3.0 percent increase compared to May 2023. This growth was driven by a 9.6 percent increase in renewable energy generation and a 5.5 percent rise in nuclear power output, despite an 11.4 percent decline in electricity production from combustible fuels.
Solar power led the renewable energy surge in Europe, with an 18.3 percent year-on-year increase, contributing to a record-high 14.9 percent share in the region’s electricity mix. Hydropower also saw a significant recovery, growing by 16.8 percent year-on-year, following a period of drought that had previously reduced output.
