Global Renewable Energy Supply (Excluding Solid Biofuels) by Country

In 2023, Iceland leads in renewable energy supply at 88.23%, albeit with a slight decline of 0.17% year-over-year (YoY). Notable increases include Venezuela at 22.28%, Angola at 15.23%, and Jordan at 20.26%. Countries like Sweden and Spain have shown significant growth with 7% and 5.08% YoY increases, respectively. Conversely, countries like Guyana and Oman demonstrated the highest YoY changes, with 22.22% and 43.1%, respectively. The United Arab Emirates also had a substantial boost of 44.04%, indicating growing diversification towards renewable energies.

Future trends to watch include the continued rise in renewable energy adoption in emerging and developing markets, potentially driven by policy incentives and technological advancements. Countries like the United Arab Emirates, Mongolia, and Australia are expected to continue their robust growth in renewable energy supply. A focus on sustainable infrastructure and international collaboration will be critical for further growth.