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

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By illuminem briefings 🌎

· 2 min read


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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