According to a new report from the International Energy Agency (IEA), global renewable power capacity is expected to increase by a third this year, with solar PV and wind power leading the way. The growth is driven by policy momentum, higher fossil fuel prices, and energy security concerns. The report predicts that global renewable capacity additions will continue to soar next year, with renewables accounting for over 55% of global power capacity additions in China in both 2023 and 2024. The report also highlights the need for governments to adapt policies to changing market conditions and invest in grids to integrate renewables effectively and securely.
resource: https://esgnews.com/iea-report-renewable-power-capacity-on-course-for-largest-annual-increase-ever/