IEA reports unprecedented growth, highlighting China’s leadership and the surge in solar and wind power.
Record-Breaking Additions in 2023: 510 GW Increase
The International Energy Agency (IEA) announces a groundbreaking 50% rise in global renewable energy capacity, reaching an impressive 510 gigawatts in 2023. Notably, solar photovoltaics (PV) contribute three-quarters to this remarkable surge.
China’s Dominance and Impressive Wind Power Rise
China emerges as a key player, commissioning an equivalent of the entire world’s 2022 solar PV capacity in 2023. Furthermore, China witnesses a remarkable 66% year-on-year increase in wind power additions, solidifying its position as a renewable energy leader.
All-Time Highs in Key Regions: Europe, U.S., and Brazil
Europe, the United States, and Brazil experience unprecedented growth, achieving all-time highs in renewable energy capacity. This regional momentum signifies a global commitment to advancing sustainable energy practices and reducing reliance on fossil fuels.
IEA Chief’s Positive Assessment and Economic Viability
IEA Chief Fatih Birol expresses optimism, projecting a two-and-a-half-fold increase in global renewable capacity by 2030 under existing policies. He emphasizes the cost-effectiveness of onshore wind and solar PV, stating they now outperform new and existing fossil fuel plants in most countries.
This surge in global renewable energy capacity not only reflects progress towards sustainable energy goals but also underlines the economic competitiveness of renewables. As nations transition away from fossil fuels, the IEA’s optimistic outlook sets a promising path for a greener future.
Source：channelnewsasia.com
