The nearly 510 gigawatts added in 2023 is almost 50 percent more than the growth seen in 2022.
The IEA noted that Europe, the U.S. and Brazil saw all-time highs in renewable capacity growth. But it said that China in particular saw “extraordinary” acceleration.
In 2022, China commissioned an amount of solar equivalent to what the entire world commissioned that year, while also increasing wind installations year over year.
Despite the growth, the report also found that the world is not on track to meet the global goal of tripling renewable capacity set out in this year’s COP28 climate agreement.
It pointed to hurdles including policy uncertainty, insufficient investment in grid infrastructure, administrative barriers to approving projects and not enough financing in developing countries.
Read more in a full report at TheHill.com.
