Global Renewable Energy Deployment Accelerates, Breaking Records

Renewable power capacity is expected to increase by a third this year, with solar PV accounting for two-thirds of the increase, according to the International Energy Agency. The world's total renewable electricity capacity is set to rise to 4,500 GW by next year, with global renewable capacity additions set to soar by 107 GW, the largest absolute increase ever, to more than 440 GW in 2023. The expansion is taking place across the world's major markets, with China set to account for almost 55% of global additions of renewable power capacity in both 2023 and 2024.