2023: Record Expansion of Renewable Energies

by | 27. Mar 2024 - 15:13 | Economy

According to IRENA, solar and wind power accounted for the lion’s share.

2023 was a record year for the expansion of renewable energies: 473 gigawatts (GW) of capacity were added worldwide. Solar and wind energy accounted for the lion’s share, at 97.6 percent, as shown by the latest figures from the International Renewable Energy Agency (IRENA).

At the end of last year, renewable energies accounted for a total of 43 percent of the electricity capacity installed worldwide. According to IRENA, despite this “unprecedented expansion,” more must be done to achieve the global goal of tripling renewable capacity by 2030. Just recently, the agency pointed out that annual investment in renewable energies would have to triple. IRENA has also repeatedly pointed out that a secure supply of raw materials is crucial for a successful energy transition. Geographical concentration in the supply chains is a risk, so exploring known but as yet unexploited raw material deposits around the world is advisable.

Photo: iStock/lovelyday12

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