2023 top markets report renewable energy country case study năm 2024

Global renewable energy capacity grew by the fastest pace recorded in the last 20 years in 2023, which could put the world within reach of meeting a key climate target by the end of the decade, according to the International Energy Agency (IEA).

Additions to the world’s renewable energy grew by 50% last year to 510 gigawatts (GW) in 2023, the 22nd year in a row that renewable capacity additions set a new record, according to figures from the IEA.

The “spectacular” growth offers a “real chance” of global governments meeting a pledge agreed at the Cop28 climate talks in November to triple renewable energy capacity by 2030 to significantly reduce consumption of fossil fuels, the IEA added.

A graphic shows the amount in electricity capacity different renewables have added

The IEA’s latest report found that solar power accounted for three-quarters of the new renewable energy capacity installed worldwide last year. Most of the world’s new solar power was built in China, which installed more solar power last year than the entire world commissioned the year before, despite cutting subsidies in 2020 and 2021.

Record rates of growth across Europe, the US and Brazil have put renewables on track to overtake coal as the largest source of global electricity generation by early 2025, the IEA said. By 2028, it forecasts renewable energy sources will account for more than 42% of global electricity generation.

Tripling global renewable energy by the end of the decade to help cut carbon emissions is one of five main climate targets designed to prevent runaway global heating, alongside doubling energy efficiency, cutting methane emissions, transitioning away from fossil fuels, and scaling up financing for emerging and developing economies.

Fatih Birol, the IEA’s executive director, said: “It’s excellent news to see the historical and spectacular growth of renewable energy.” He added that while the report shows that global renewable capacity is already on course to increase by two-and-a-half times by 2030, it is not yet expected to reach the Cop28 goal of tripling renewables.

“We’re not there, but we’re not a million miles away,” Birol said. “And governments have the tools needed to close the gap.”

Birol downplayed concerns that fast-rising costs facing wind developers in the US and Europe will be a drag on the industry’s long-term growth. The combination of higher interest rates and supply chain costs has forced some developers to cancel big offshore wind projects, and raised concerns over the future of the technology.

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“I would be very careful not to confuse a cyclical increase in costs with a structural increase in costs. Costs will continue to come down in the industry, as the cyclical costs of today begin to ease,” Birol said.

Emerging and developing economies will face challenges accessing finance, strengthening governance and creating robust regulatory frameworks which will be essential to reducing investor risk and attract investment, the IEA said, which may include establishing new targets and policies in countries where they do not exist yet.

“For me, the most important challenge for the international community is rapidly scaling up financing and deployment of renewables in most emerging and developing economies, many of which are being left behind in the new energy economy. Success in meeting the tripling goal will hinge on this,” Birol said.

GCC countries can maintain a key role in global energy markets by exploiting their cost-effective renewable potential, spurring investment, and expanding innovation.

Dubai, United Arab Emirates, 6 December 2023 – Today, the International Renewable Energy Agency (IRENA) unveiled a report on the progress of renewable energy in countries of the Gulf Cooperation Council (GCC).

Renewable Energy Markets: GCC 2023 suggests that GCC countries can leverage existing resources to develop innovative renewable energy-based solutions not only to mitigate climate change, but also to diversify their economies, create jobs, and reduce environmental impacts of the energy sector.

As COP28 is underway in the heart of the GCC, this report serves as a resource and reference point for policy makers, businesses and civil society in harnessing the region’s vast renewable resource potential.

At less than US cents 2 per kilowatt hour (kWh), solar PV is now the least-cost option for power production in the GCC, outpacing natural gas, liquefied natural gas, oil, coal and nuclear power. Plummeting generation costs and abundant solar and wind resources in the region open the door for innovative energy technologies, such as green hydrogen, to be produced competitively.

“As the world ushers in a new energy era, the GCC region has a unique opportunity to maintain a leading role in the global energy market,” said IRENA Director General Francesco La Camera. “Momentum in the region builds, as GCC states develop increasingly ambitious renewable energy and hydrogen strategies and pursue the implementation of their net-zero commitments.”

“Renewables are now cost-effective in the GCC, with highly successful auctions resulting in world-record-low prices for solar. This is boosting the economic case and paves the way for the introduction of high shares of renewables in the electricity mix. Further sustained action is needed to translate ambitious targets into delivery on the ground.”

The report underscores a significant increase in the GCC’s installed renewable power capacity, from 176 megawatts in 2013 to over 5.6 gigawatts in 2022. However, renewables still only account for a negligible amount of the region’s electricity capacity, while end-uses continue to rely on fossil fuels.

Public investments in infrastructure and in value chains can further drive and enable the deployment of renewable energy and associated benefits, the report finds. It emphasises building on existing energy infrastructure, including enhancing regional grid interconnections and developing infrastructure to support end uses of renewables, for example in transport.

The GCC countries need to play a larger role in achieving global targets, both domestically and internationally. Beyond national efforts, GCC countries are in a position to support the energy transition in developing countries through international collaborative investments in renewable energy.

What is the current situation of renewable energy in the world 2023?

Additional renewable electricity capacity reached 507 gigawatts (GW) in 2023, with solar PV making up three-quarters of global additions, according to the International Energy Agency's (IEA) Renewables 2023 report.

Which country has the most potential for renewable energy?

Yemen has the highest average solar energy potential in terms of global horizontal irradiance (GHI), a proxy of the strength and concentration of solar energy hitting a PV panel.

What is renewable energy 2023 IEA?

Renewables 2023 is the IEA's primary analysis on the sector, based on current policies and market developments. It forecasts the deployment of renewable energy technologies in electricity, transport and heat to 2028 while also exploring key challenges to the industry and identifying barriers to faster growth.

What is the renewable energy capacity of China in 2023?

China added a record 301 GW of renewable power generation capacity including solar, wind and hydro in 2023, accounting for around 59% of the world's total renewable capacity additions last year.