Record 9.6% Growth in Renewables Achieved Despite Energy Crisis

The growth of renewable energy technology in 2022 confirms the rising development of renewables towards the discount of recent fossil gas capability

Abu Dhabi, United Arab Emirates, 21 March 2023 – By the top of 2022, the worldwide renewable technology capability amounted to 3372 Gigawatt (GW), rising the inventory of renewable energy by 295 GW or 9.6 %. A powerful 83 % of all electrical energy capability added final yr was generated by renewables.

The Renewable Capability Statistics 2023, launched by the Worldwide Renewable Vitality Company (IRENA) present that renewable power continues to develop at report ranges regardless of world uncertainties, confirming the downward development in fossil fueled energy technology.

“This steady report development reveals the power of renewable power within the midst of the continuing power disaster,” stated IRENA Director-Normal Francesco La Digicam. “The robust enterprise case for renewables coupled with enabling insurance policies is sustaining an upward development of their share of the worldwide power combine annually. on a path that limits world warming to 1.5oC .”

Whereas many nations are rising their renewable capability by 2022, important development in renewables is usually concentrated in a couple of nations and areas akin to Asia, the USA and Europe. IRENA knowledge discovered that just about half of all new capability in 2022 was added in Asia, leading to a complete of 1.63 Terawatt (TW) of renewable capability in 2022. China was the most important contributor, including 141 GW of recent capability on the continent.

Renewables in Europe and North America grew by 57.3 GW and 29.1 GW respectively. Africa continues to increase steadily with a rise of two.7 GW, barely greater than final yr. Oceania continued its double-digit development with an growth of 5.2 GW and South America continued the upward development, with a capability growth of 18.2 GW. The Center East recorded the very best improve in renewables on report, with 3.2 GW of recent capability commissioned in 2022, a rise of 12.8 %.

La Digicam added: “As power demand is anticipated to extend in lots of areas of the world, the power transition requires a step change that gives a strategic shift past the decarbonization of the provision aspect. Any growth of recent renewable capability within the mild of latest world occasions should be linked to efforts to speed up the power transition to make the system extra secure, inclusive and local weather proof .”

Though hydropower accounts for the most important share of complete renewable technology capability with 1250 GW, photo voltaic and wind proceed to dominate new producing capability. Collectively, the 2 applied sciences will account for a 90 % share of all new renewable capability by 2022. Photo voltaic capability led the 22 % improve, adopted by wind energy, which elevated capability to make it 9 %.

Expertise highlights:
• Hydropower: Renewable hydropower capability elevated to 21 GW (+2 %), an growth in line with latest years.
• Wind energy: With a rise of 75 GW (+9 %) in 2022, the expansion of wind energy continues to decelerate in comparison with the earlier two years.
• Photo voltaic power: Photo voltaic photovoltaic (PV) energy will account for nearly the entire improve in solar energy in 2022, with a rise of 191 GW in photo voltaic PV.
• Bioenergy: Growth slowed barely in 2022 (+7.6 GW in comparison with +8.1 GW in 2021).
• Geothermal power: Geothermal power elevated at a really modest 181 MW.
• Off-grid electrical energy: Capability grows by 1237 MW in 2022 (+11 %) to achieve 12.4 GW.

In regards to the Worldwide Renewable Vitality Company (IRENA)

IRENA is the main intergovernmental company for the worldwide power transition that helps nations of their transition to a sustainable power future and serves as the primary platform for worldwide cooperation, a middle of effectivity, and a repository of coverage, know-how, sources and finance. data of renewable power. With 168 Members (167 States and the European Union) and 16 extra nations within the technique of becoming a member of and actively collaborating, IRENA promotes the widespread adoption and sustainable use of all sorts of renewable power within the seek for sustainable growth, power entry, power safety and low-carbon financial development and prosperity.

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