Fossil fuel sources still account for the majority of global energy consumption, but renewables are not far off. The share of global electricity from renewables grew from 18% in 2009 to nearly 28% in 2020.
Renewable energy sources follow learning curves or Wright’s Law—they become cheaper by a constant percentage for every doubling of installed capacity. Therefore, the increasing adoption of clean energy has driven down the cost of electricity from new renewable power plants. Read more here from our friends at VisualCapitalist.