"Renewable Energy Capacity Surges, World on Track to Triple Renewables by 2030"
TL;DR Summary
The world added 50% more renewable energy capacity in 2023 than in 2022, with solar accounting for 75% of the additions, putting it on track to achieve the goal of tripling global capacity by 2030 set at COP28. The International Energy Agency's report shows that global renewable power capacity is expected to grow to 7,300 GW over the 2023-28 period, with renewables overtaking coal as the largest source of global electricity generation by early 2025. However, further efforts are needed to meet the COP28 goals, and success will depend on scaling up financing for emerging and developing economies.
- Good news – the world has a real chance of achieving its goal of tripling renewables by 2030 Electrek
- World’s renewable energy capacity grew at record pace in 2023 The Guardian
- Global Renewable Energy Capacity Additions Jumped by Nearly 50% in 2023 OilPrice.com
- Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says Yahoo Canada Finance
- Renewable energy surge of 50% driven by China, IEA says Financial Times
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