2024-01-13 10:40:03
The deployment of renewable energy around the world saw unprecedented growth in 2023, with a 50% rate of increase in renewable electricity capacity compared to the previous year. This trend, although promising, remains insufficient to respond to the challenges of global warming, according to the recent report from the International Energy Agency (IEA), published on January 11, 2024.
The IEA’s Renewables 2023 report reveals that around 507 gigawatts (GW) of renewable electricity capacity has been installed worldwide, representing a 50% increase from 2022. Of these installations, three-quarters are attributable to to photovoltaic solar energy.
China was the main driver of this growth, recording a 66% increase in wind turbine deployment in one year. However, other regions such as Europe, the United States and Brazil also reached record levels. The IEA forecasts even more significant growth in renewable energy over the next five years, constituting the “strongest growth” in the last thirty years.
Despite this progress, the IEA emphasizes that additional efforts are necessary, particularly in terms of financing for emerging and developing countries. Currently, global capacity might be multiplied by 2.5 by 2030, but adjustments are necessary to achieve the tripling target set at COP28.
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IEA Director Fatih Birol emphasizes the crucial role of onshore wind and photovoltaics, emphasizing their competitiveness compared to fossil fuel power plants. Although the pace of renewable energy deployment is encouraging, challenges remain, particularly in Europe, where the wind industry is affected by high production costs and prolonged administrative procedures.
In sum, although renewable energy saw significant growth in 2023, additional actions are needed globally to accelerate the transition to more sustainable energy sources and achieve the climate targets set at COP28.
