Europe, US, China: where was installed the most wind and solar power in 2023?

illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:

🗞️ Driving the news: In 2023, the world witnessed a rapid expansion of renewable energy, led by solar power. The International Energy Agency (IEA) projected a record addition of over 440 gigawatts, surpassing the entire power capacity of Germany and Spain combined

🔭 The context: This growth is driven by lower costs of clean energy, supportive national policies, and energy security concerns 
• Solar energy, now the cheapest electricity source in many countries, saw significant installation records in China, Europe, and the U.S., despite challenges like high interest rates and material shortages.

🌍 Why it matters for the planet: The accelerated adoption of renewables, especially solar power, is crucial for reducing dependence on fossil fuels and combating global warming
• This shift also aligns with the growing global momentum towards sustainable energy solutions

⏭️ What's next: The renewable energy sector faces ongoing challenges, including supply chain issues and the need for further technological advancements 
• Continued global investment and policy support are key to maintaining this growth trajectory and achieving long-term sustainability goals.

💬 One quote: “Particularly in Europe, it’s been really at breakneck speed of scaling up the deployment,” comments Michael Taylor, a senior analyst at the International Renewable Energy Agency (IRENA).

📈 One stat: Solar power is expected to surpass hydropower in total capacity globally by the end of 2023, a significant milestone in renewable energy growth.

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