IEA: The global renewable energy installed capacity in 2023 is nearly 510GW--Seetao

In a recent groundbreaking report, the International Energy Agency (IEA) said that the world will install nearly 510GW of renewable energy capacity in 2023, a 50% surge compared to the previous year. This growth was primarily driven by the rapid growth of photovoltaic systems installed worldwide, which accounted for three-quarters of new renewable energy capacity installed worldwide. China has become a global renewable energy powerhouse, with as much installed PV system capacity in 2023 as will be installed worldwide in 2022, while wind power installations soared 66% year on year, showing impressive growth. Europe, the United States and Brazil also experienced record high growth in installed renewable energy capacity. The Renewable Energy 2023 Report, published by the International Energy Agency, is the first comprehensive assessment report released after the COP28 climate conference. According to the report, under current policies, the cumulative installed capacity of renewable energy generation facilities worldwide is expected to reach 7,300GW by 2028. This forecast shows that photovoltaic systems and wind power are the main contributors to the growth of global renewable energy installed capacity, accounting for 95%. Notably, by early 2025, renewable energy is expected to overtake coal as the world's main source of electricity. However, despite this significant progress, further efforts are needed to achieve the goal of tripling installed renewable energy capacity by 2030. Editor/Xu Shengpeng

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