Global renewable energy capacity grew by 10% last year: IRENA

Global renewable energy capacity grew 9.6 percent last year but needs to grow at three times the current rate to limit global warming, the International Renewable Energy Agency said on Tuesday.

According to IRENA’s annual report on renewable energy statistics, global renewable energy capacity was 3,372 gigawatts at the end of last year, around 295 GW or 9.6 percent more than the year before.

Around 83 percent of all new electricity capacity last year came from renewable energies.

“This sustained record growth demonstrates the resilience of renewable energy amid the ongoing energy crisis,” said Francesco La Camera, Director General of IRENA.

“But annual renewable energy capacity additions need to increase to three times current levels by 2030 if we are to remain on a path that limits global warming to 1.5°C,” he added.

Solar and wind power dominated the build-out of renewable capacity and together accounted for 90 percent of all net renewable additions in 2022, the report said.

Almost half of the new capacity was added in Asia. China was the largest contributor, adding 141 GW to Asia’s new capacity.

Renewables in Europe and North America grew by 57.3 GW and 29.1 GW, respectively, while the Middle East saw 3.2 GW of new capacity coming online in 2022, the highest renewable energy increase since the beginning of 2020 Records showed an increase of 12.8 percent over the previous year.

On Monday, a report by the United Nations Intergovernmental Panel on Climate Change said emissions must be halved by the mid-2030s if the world is to have any chance of limiting temperature rises to 1.5 degrees Celsius above pre-industrial levels – a key goal enshrined therein is the world climate pact, the Paris climate agreement.

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