According to the report "Renewable Capacity Statistics 2024" published by the International Renewable Energy Agency (IRENA) on March 27, the scale of new renewable energy installations in the power industry in 2023 will be 473 GW , setting a new record for single-year increases.
Annual increase in renewable and non-renewable energy in the world and trends in the share of renewable energy
(Source: IRENA)
Of the 473GW of renewable energy added, solar and wind power accounted for 97.6%. Specifically, solar power increased by 346GW and wind power increased by 116GW. In other regions, hydropower accounts for 7.0GW, biomass accounts for 4.4GW and geothermal accounts for 0.2GW.
Cumulative amount of renewable energy introduced by region and world
(Source: IRENA) As a result, the total amount of renewable energy introduced worldwide will reach 3,870GW by the end of 2023. Although renewable energy accounts for 86% of the total capacity increase of power generation facilities , but the regional distribution is uneven and the country is far from meeting its target of tripling renewable energy output by 2030.
Changes in cumulative renewable energy use in the world and increase in 2023
(Source: IRENA)
In terms of regional analysis of 473GW of renewable energy expansion by 2023, Asia once again leads the way, accounting for 69% (326GW). China led this growth, with new capacity increasing 63% to 297.6GW. This represents a significant gap compared to other regions, with the majority of developing countries left behind despite their great economic and development needs. Africa has shown some growth, but total cumulative capacity remains at 62GW, up 4.6%.
Other regions with strong growth were the Middle East (+16.6%) and Oceania (+9.4%). G7 countries added 69.4GW in 2023, an increase of 7.6%. On the other hand, G20 countries will grow by 15.0% in 2023, reaching a total cumulative capacity of 3,084GW. However, for the entire world to reach the triple target of 11 TW (11,000 GW) or more, G20 member countries alone will need to achieve a cumulative renewable energy generation capacity of 9.4 TW ( 9,400 GW) by 2030. .
The report also points out that growth disparities affect not only geographic distribution but also technology deployment. Solar generation accounts for 73% of renewable energy growth by 2023, reaching a total cumulative capacity of 1,419GW. Next is wind power, accounting for 24% of the increase in renewable energy.
IRENA's 1.5°C scenario recommends scaling up financing and strong international cooperation to accelerate the energy transition and put developing countries as a top priority. Requires investments in grid, generation, flexibility and storage. It also calls for stronger institutions, policies and skills to triple renewable energy capacity by 2030.
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