New Record in Renewable Growth in 2023

IRENA releases its latest report on renewable capacity highlighting the need for equitable energy development across all regions

The International Renewable Energy Agency (IRENA) unveiled its “Renewable Capacity Statistics 2024” report on March 29, revealing unprecedented growth in the adoption of clean energy sources worldwide during 2023 Here are the highlights covered in the report:

  • Record Growth:Global renewable energy capacity surged by an impressive 9.7% in 2023, reaching a total capacity of 3,928 gigawatts (GW), setting a new record in renewable energy expansion.
  • Solar Leads the Way: Solar energy spearheaded the growth, with an additional capacity of 181 GW in 2023. This represents a 20% increase compared to 2022 and establishes a new standard for photovoltaic solar energy
  • Importance of Wind Energy: Wind energy also experienced significant growth, with an addition of 86 GW in 2023. This growth was primarily driven by expansions in China, the United States, and the European Union.
  • Diverse Regional Contributions: Asia led global growth with nearly half of the new renewable energy capacity installed in 2023, followed by North America and Europe.
  • Equity and Access Challenges: Although the record growth is encouraging, it is not equitable across all regions globally, highlighting the need to address equity and access challenges. It is essential to ensure that all communities and countries, especially the least developed ones, can benefit from the potential of renewable energies.

In summary, the findings underscore the urgent need to continue investing in renewable energy technologies and implementing policies that promote their adoption globally. However, it is crucial to tackle the challenges related to equity and access. Only then can we grant renewable energies the essential role they deserve in transitioning to a more sustainable energy model.


Source: Renewable capacity statistics 2024