The total amount of renewable energy capacity worldwide reached 3372 gigawatts, representing an increase of 295 gigawatts or 9.6 per cent at the end of 2022.
A noteworthy 83 percent of the entire power capacity added last year was generated by renewable sources.
Renewable energy has continued to grow at a remarkable pace indicating a decline in power generation fueled by fossil fuels despite uncertainties in the global environment.
This information was revealed by the International Renewable Energy Agency’s Renewable Capacity Statistics 2023.
The IRENA’s Director-General Francesco La Camera said, “This continued record growth shows the resilience of renewable energy amidst the lingering energy crisis.”
“The strong business case of renewables coupled with enabling policies has sustained an upward trend of their share in the global energy mix year on year.
“But annual additions of renewable power capacity must grow three times the current level by 2030, if we want to stay on a pathway limiting global warming to 1.5°C.”
According to IRENA, while various countries have augmented their renewable energy capacity in 2022, the substantial progress of renewable energy is still limited to certain countries and regions such as Asia, Europe, and the USA.
IRENA’s data finds that almost 50 per cent of new renewable capacity added in 2022 was in Asia, which brings the total renewable capacity in the continent to 1.63 Terawatt by the end of that year.
The major contributor to this growth was China, which added 141 GW to the new capacity in Asia.
It was reported that a growth of 57.3 GW was observed in Europe and 29.1 GW in North America for renewable energy.
Meanwhile, Africa’s expansion continued at a steady pace with a slight increase of 2.7 GW compared to last year.
Oceania maintained its double-digit growth, expanding by 5.2 GW, while South America saw a capacity expansion of 18.2 GW, continuing an upward trend.
In 2022, the Middle East experienced its largest increase in renewable energy on record, commissioning 3.2 GW of new capacity, representing a 12.8 per cent increase.
“As energy demand is expected to rise in many regions of the world, the energy transition requires a step-change that delivers a strategic shift beyond the decarbonization of the supply side.
“Any expansion of new non-renewables capacity in light of recent global events must be connected to efforts to accelerate the energy transition to make the system more resilient, inclusive and climate-proof,” La Camera added.
