"Renewable Energy Capacity Surges, World on Track to Triple Renewables by 2030"
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.