Renewables grew rapidly in 2023, but must grow faster still to meet climate change target, IEA says
Associated PressBENGALURU, India — The world’s renewable energy grew at its fastest rate in the past 25 years in 2023, the International Energy Agency reported Thursday in its first assessment since nations agreed in December on ambitious new targets to slow dangerous climate change. The Paris-based agency said rapid growth of solar in China was the main driver as the world added nearly 510 gigawatts — enough to power nearly 51 million homes for a year — with Europe, the United States and Brazil IEA Executive Director Fatih Birol said renewable energy is on course to increase by 2 1/2 times by 2030. The IEA expects 3,700 gigawatts of clean energy capacity to be added by 2028 across 130 countries, with solar and wind energy accounting for almost all of it. The report finds that the key challenges to clean energy growth in developed countries are policy uncertainties, fragile economic environments and insufficient investment in electricity transmission grids to accommodate greater shares of renewables.