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Published 10 months ago

Renewable energy surges, driven by solar boom and high fuel prices, report finds

  • Renewable electricity capacity is expected to increase by a third in 2023, driven by government policies and energy security concerns, with solar and wind power installations expected to reach 440 GW.
  • These additions will take the global installed capacity to 4,500 GW, equivalent to the combined total power output of the United States and China.
  • Solar photovoltaic capacity will account for two-thirds of this year's increase, while wind power capacity additions are forecast to grow by almost 70% in 2023 year-on-year.
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