The world installed 50% more renewable energy last year than in 2022according to the International Energy Agency (IOC, IEA)who predicts an unprecedented growth rate of these energy sources in the coming years, although he estimates that it will be insufficient to address climate change.

About 507 gigawatts (GW) were produced, that is 50% more than in 2022according to the report Renouvelables 2023, released today by the ILO.

Three-quarters of these new installations in 2023 were solar.

China was again the big engine of this growth (+66% in wind turbines in one year, for example). But Europe, the United States and Brazil also achieved unprecedented levels.

THE IOC predicts for the next five years the “strongest growth” ever seen in three decades.

“The capacity to generate electricity from renewable sources has never expanded so rapidly in 30 years, which offers a real opportunity to achieve the goal set by governments at COP28 to triple global generation capacity by 2030,” the IOE underlines.

However, this pace is still not enough, adds the Organization, which mainly points to the need for financing towards emerging and developing countries.

“Under current market conditions and with current policies, global (renewable electricity generation) capacity will multiply by 2.5 times by 2030. This is still not enough to meet the COP28 target of tripling, but the we are getting closer, and governments have the necessary tools to catch up,” summarizes IOC Director Fatih Birol.

“Onshore wind turbines and photovoltaics are today almost everywhere cheaper than new fossil fuel stations and less expensive than existing stations in most countries,” the economist underlines.

Photovoltaic prices fell by almost 50% year-on-year last year, and this decline is expected to continue with the observed increase in construction capacity, says the Agency, which was created 50 years ago by the Organization for Co-operation and Development in Europe ( OECD), when the issue was still to give an answer to the oil crash.