In August 2024, total net electricity production across the OECD countries reached 981.9 TWh, marking a 1.1 percent year-on-year increase and a 2.7 percent rise year-to-date, according to the International Energy Agency (IEA).
Fossil Fuels: Contributing 51.5 percent of the total electricity, fossil fuel generation fell by 3.2 percent year-on-year, primarily due to a sharp 6.5 percent decline in coal-fired electricity. This reduced coal’s share to 16.9 percent of the total mix.
The largest decline occurred in OECD Americas, where coal generation dropped by 12.9 percent.
Electricity from natural gas also saw a slight 1.0 percent decrease, with mixed regional performance:
Increases in OECD Americas (+1.2 percent) and OECD Asia Oceania (+5.4 percent)
A sharp decline in OECD Europe (-16.9 percent).
Renewables: Representing 32.4 percent of the total, renewable energy grew by 7.6 percent year-on-year, with notable growth in:
Solar (+27.3 percent):
OECD Americas (+32.2 percent), OECD Europe (+28.8 percent), and OECD Asia Oceania (+16.8 percent).
Wind (+5.5 percent):
OECD Asia Oceania led with a 40 percent rise, contributing 5 TWh (2.8 percent of its regional generation).
OECD Europe remained the largest producer, generating 37.9 TWh (+5.5 percent).
Hydro: Saw a 3.2 percent decrease overall, with the sharpest declines in OECD Asia Oceania (-13.9 percent).
Nuclear Energy: Accounting for 15.8 percent of the OECD’s total electricity, nuclear power generation increased by 3.2 percent year-on-year, driven by strong growth in OECD Europe (+13.5 percent, particularly in France). However, slight declines were observed in OECD Americas (-0.3 percent) and OECD Asia Oceania (-6.8 percent).
India’s Nuclear Power Milestone
India reported a significant surge in nuclear power generation in August 2024, producing 5162 GWh, a 25.7 percent increase year-on-year. Nuclear energy accounted for 3.16 percent of India’s electricity mix.
This growth reflects India’s strategic investments in nuclear capacity, including the commissioning of new reactors, as part of its plan to diversify its energy portfolio.
These developments underscore a global shift toward cleaner energy sources, with renewables and nuclear energy playing an increasingly prominent role in reducing reliance on fossil fuels.