International Renewable Energy Agency (IRENA)’s Post

#Solarenergy is the largest #renewableenergy source and likely to remain as the #mainsource of #renewablecapacityadditions in future. : #Renewableenergystatistics 2024 of #IRENA : #Globalrenewableenergy #installedcapacity is #3864GW as per the end of 2023. In 2023, #solar energy was the largest source of #renewablecapacity at 36.7% or 1 418 GW, followed by 36.4% #hydropower (1 407 GW incl. #pumpedstoragehydropower of 142 GW), 26.3% #wind energy (1 017 GW), 3.9% #bioenergy (149 GW) and traces of #geothermal (15 GW) and #marineenergy ( 0.5 GW). The share of #variablerenewables (#wind and #solar) has increased to 63.0% of #renewable capacity, indicating a shift towards these more #intermittentenergy sources. The status of #solar energy as the #mainsource of #capacity is likely to remain in future years, also reflected by its predominance in 347 GW out of 473 GW of #renewablepoweradditions in 2023. #RenewableEnergy #SolarEnergy #Hydropower #Wind #Geothermal #FloatingSolar #PumpedStorageHydropower #3xRenewables

I was pleased to contribute to the latest publication of the International Renewable Energy Agency (IRENA)’s Renewable Energy Statistics 2024, the largest annual compilation of statistics, which is incredibly detailed and important for everyone involved in renewables. As usual, this nearly 300-page report provides detailed information on renewable energy production and energy balances for almost every country in the world. It is an enormous and meticulous effort by the IRENA statistics team. This year's report unemotionally states that the rate of renewable energy production is insufficient compared to the targets recently agreed upon in Dubai. Additionally, the regional imbalance is very concerning - there are entire parts of large continents where the deployment of renewables is just beginning, while in numerous more advanced countries, the further development of renewables increasingly faces bottlenecks due to permitting procedures, lack of grid capacity, or flexibility mechanisms. It is important to consider these cross-country differences on our common path forward.

Renewable energy in 2023........1️⃣ 🔷 In 2023, the renewable energy sector witnessed tremendous developments in the main markets competing for leadership, especially China, Europe, and the United States, with other features of growth in developing and emerging economies. 🔷 Despite the growth of renewable energy installations in 2023 at a record rate overall; This growth did not include all its sectors; Hydropower and bioenergy capacity witnessed a decline compared to 2022 🔷 Renewable energy additions in 2023 reached an all-time high, growing by 32%, or 107 GW, to reach 442 GW, compared to 335 GW in 2022, according to the IEA's base case estimates. 🔷 Global rooftop solar additions jumped from 112.6 GW in 2022, to 150.8 GW in 2023, an increase of 34%, or the equivalent of 38.2 GW. 🔷 While utility-scale concentrated solar power additions increased from 107.4 GW in 2022 to 136.2 GW in 2023, an increase of 27%, or the equivalent of 28.8 GW. 🔷 In total, additional installations of solar energy globally (both distributed and concentrated) jumped by 76 GW, reaching 287 GW in 2023, compared to 220 MW in 2022. #energyticslimited #renewableenergy #energyefficiency #energyinnovation #rooftopsolarpower #utilityscaleconcentratedsolarpower

China emerges as global green energy champion with two-thirds of the world's new wind and solar power plants #bne #bneEditorsPicks #bneGreen #China #renewables #ClimateCrisis #ESG Almost two-thirds of the world's large wind and solar power plants are in China while a surge in renewable capacity has driven coal's share of power generation to new lows, Reuters reports. China has 339 GW of wind and solar capacity under construction, or 64% of the global total, according to a report by US think tank Global Energy Monitor (GEM). That’s more than eight times the second-place US’s 40 GW of capacity.

Global investment in the low-carbon #energytransition surged 17% in 2023, reaching $1.77 trillion, according to Energy Transition Investment Trends 2024 report by BloombergNEF (BNEF). The report finds that electrified transport is now the largest sector for spending in the energy transition, growing 36% in 2023 to $634 billion. Electrified transport overtook the renewable energy sector, which saw an 8% increase to $623 billion. This figure reflects investment to construct #renewableenergy production facilities, such as wind, solar and geothermal power plants, and #biofuels production plants – among other things. Power grid investment was the third-largest contributor at $310 billion. Report: https://bloom.bg/47RoBwN

💡 Renewables Europe   According to an insightful report by International Energy Agency (IEA), which forecasts the pace of renewables growth capacity from 2023 to 2028 in Europe, additions will add up to 532 GW As seen in the following graphs which analyse renewable capacity additions by technology from 2011 to 2028 (left side) and forecast revisions (right side), distributed solar PV is again the “main source of expansion”, revised up by 46%, together with utility scale PV (up by 4%)   Despite "the downward revision from other sources", results are optimistic since, as seen in the main case, the share of renewable electricity generation in Europe significantly increases from 2022 to 2028. According to International Energy Agency (IEA) whether this is enough to meet 2030 ambitions is uncertain, but more specific targets for each country will be announced this June… 📌Link to the full report: https://lnkd.in/dKDasR3q ⚡ AtZ Investment Partners is a M&A and project finance financial advisory boutique in #energy and #infrastructure specialized in selling/looking for buyers for pre-RTB transactions in USA, Latin America and Europe #renewables #energytransition #cleantechnologies #hydrogen #pv #distributedPV #biomass #windonshore #windoffshore #hydropower, #bioenergy #europe

The African continent has vast resource potential in wind, solar, hydro, and geothermal energy and falling costs are increasingly bringing renewables within reach. Renewable energy deployment has grown in the last decade, with more than 26 GW of renewables-based generation capacity added. Solar and wind have contributed significantly to this growth as they are now the cheapest generation technologies in many African countries. https://lnkd.in/dJ_Dd-mv

🌍 Since 2000, global renewable energy capacity has surged by 415%, achieving a remarkable CAGR of 7.4%. Despite this impressive growth, the U.S. and Europe lag behind in renewable capacity expansion. 📊 Dive into our latest infographic to see how different regions are driving the renewable energy revolution, based on the latest International Renewable Energy Agency (IRENA) data. https://loom.ly/a3BFa_Y #RenewableEnergy #Sustainability #CleanEnergy #ClimateAction #GlobalTrends

The Winds of Change are Blowing Strong! 🌬️☀️ Exciting news from the U.S. Energy Information Administration (EIA). Wind and solar energy are poised to lead the charge in U.S. power generation for the next two years. With a 75% boost in solar and an 11% rise in wind power, fueled by new projects and favorable policies, it's clear that renewable energy is becoming a major player in our energy mix! 🔆 #RenewableEnergy #WindAndSolar #SustainablePower 

Check out this fascinating article by Forbes! The renewable energy landscape is experiencing a significant milestone, with wind and solar power surpassing hydropower in capacity.  Solar electricity consumption experienced a remarkable 25% surge in 2022, surpassing the growth of wind power. Together, wind and solar accounted for an unprecedented 14.4% share of power generation, highlighting the rapid growth of renewable energy sources. Meanwhile, hydroelectricity's growth rate trailed behind, representing 6.7% of global primary energy consumption in 2022. According to the article, renewable energy sources such as wind and solar are gaining traction and overtaking traditional hydropower. This shift is a testament to the rapid advancements in technology and the growing global focus on sustainability. 🚀 Read more : https://lnkd.in/ge3bshE2 #RenewableEnergy #Sustainability #CleanEnergyFuture