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Solar Pv

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energy2 years ago•3 min saved

"Global Renewables Set to Surpass Coal as Leading Electricity Source by 2025"

The International Energy Agency predicts that renewables will surpass coal as the world's largest electricity source by early 2025, with solar PV and wind accounting for 95% of the expansion. The agency's Renewables 2023 report highlights the rapid growth of global renewable power capacity and emphasizes the need for accelerated financing and deployment in emerging and developing economies to meet the COP28 goal of tripling capacity by 2030. The report also outlines key insights, including significant cost reductions in solar PV, substantial growth in China's solar PV and wind power, and expected doubling of solar PV and onshore wind projects in the U.S., EU, India, and Brazil by 2028.

via TESLARATI|

#cop28 #energy #international-energy-agency

renewable-energy2 years ago•3 min saved

Record-breaking surge in global renewable energy capacity driven by solar and wind.

The International Energy Agency (IEA) predicts that new installations of renewable energy capacity will surge to 440 GW this year, up by 107 GW YoY, with solar PV accounting for two-thirds of the increase. All major markets are set to see strong expansion due to the EU response to the energy crisis, new incentives in the US and India, and the continued surge in China’s renewable energy additions. Investment in solar power generation is set to eclipse investment in oil production in 2023 for the first time ever. However, the rapid expansion of renewables comes with a set of challenges that need to be overcome if current projections for the medium and long term and for a net-zero scenario are to be met.

via OilPrice.com|

#energy-crisis #iea #renewable-energy

energy2 years ago•3 min saved

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.

via IEA|

#energy #energy-security #global-energy