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Solar, batteries and heat pumps led the green charge in 2023

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By illuminem briefings

· 1 min read

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

🗞️ Driving the news: The year 2023 marked a significant milestone in renewable energy, with the largest-ever growth in global renewable capacity, led by advancements in solar and wind power, according to the International Energy Agency (IAE)

🔭 The context: This growth is fueled by the increasing affordability of renewable energy 
• Solar energy investments surpassed oil extraction for the first time, indicating a major shift in the energy sector

🌍 Why it matters for the planet: The shift towards renewable energy is crucial for reducing global greenhouse gas emissions 
• Solar and wind power are becoming more cost-effective compared to fossil fuels, encouraging a transition to cleaner energy sources

⏭️ What's next: The expansion of renewable energy is expected to continue, aligning with global climate goals 
• New battery technologies, particularly sodium-ion batteries, and the rise of electric vehicles are contributing to this transition

💬 One quote: "The rapid expansion of photovoltaics it's happening faster than expected" (Niklas Höhne, NewClimate Institute)

📈 One stat: In 2023, new solar power installations globally were expected to reach a total capacity of 400 gigawatts, a significant increase from 239 gigawatts in 2022

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