Global Renewable Energy to Break Records in 2023, IEA Says
- Media Manager
- Jun 1, 2023
- 1 min read
CarbonCredits.com
Written By Jennifer L
Published: June 2nd, 2023
Global additions of renewable power capacity will increase by a third this year, says the International Energy Agency (IEA).
In the IEA’s 2023 Renewable Energy Market Update report, the agency said new global renewable capacity will jump by 107 gigawatts (GW) to over 440 GW. This is the largest increase ever reported.
Yet, the manufacturing capacity for all solar PV productions will further rise to more than double to 1,000 GW by 2024, with China taking the lead.
“Policies need to adapt to changing market conditions, and we need to upgrade and expand power grids to ensure we can take full advantage of solar and wind’s huge potential.”
