Renewable energy installations worldwide increased by 50% in 2023

The world has installed 50% more renewable electricity capacity in 2023, compared to the previous year, according to a report from the International Energy Agency (IEA) published Thursday January 11. Some 507 gigawatts (GW) have been commissioned. Three-quarters of these installations were in photovoltaic solar.

China was once again the big driver of this growth, with, for example, a 66% increase in the number of new wind turbines over one year. But Europe, the United States and even Brazil have also reached unprecedented levels in 2023.

Production capacity multiplied by 2.5 by 2030

The IEA anticipates for the next five years the “highest growth” renewable energies never seen in thirty years. “Renewable electricity generation capacity has never expanded so rapidly in 30 years, giving a real chance of achieving the goal governments set at COP28 of tripling global capacity by 2030″underlines the agency.

But this pace remains insufficient, according to the IEA, which highlights in particular the need for financing for emerging and developing countries. “Under market conditions and current policies, global capacity would be multiplied by 2.5 by 2030, summarized the director of the organization. This is not yet enough to meet the COP28 tripling target, but we are getting close, and governments have the tools to make up the difference.”