With the global energy crisis as a catalyst, solar PV and wind are set to lead the largest annual increase in new renewable capacity ever, IEA report shows.
Global additions of renewable power capacity are expected to jump by a third in 2023 as growing policy momentum, higher fossil fuel prices and energy security concerns drive strong deployment of solar PV and wind power, according to IEA’s Renewable Energy Market Update published on June 1.
The growth is set to continue next year with the world’s total renewable electricity capacity rising to 4,500 GW, equal to the total power output of China and the United States combined, according to the report.
