The World Saw a Record 9.6% Growth In Renewables In 2022

By the end of 2022, global renewable generation capacity amounted to 3,372 gigawatts (GW), growing the stock of renewable power by 295 GW or 9.6%, according to the International Renewable Energy Agency (IRENA). Renewables produced an overwhelming 83% of all power capacity added last year. Electrek reports: Renewable Capacity Statistics 2023, released today by IRENA, shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fuels. While many countries increased their renewable capacity in 2022, the significant growth of renewables is concentrated in Asia, the US, and Europe. IRENA reports that almost half of all new capacity in 2022 was added in Asia, resulting in a total of 1.63 terawatts (TW) of renewable capacity by 2022. China was the largest contributor, adding 141 GW to Asia's new capacity. Renewables in Europe and North America grew by 57.3 GW and 29.1 GW, respectively. Africa saw an increase of 2.7 GW, slightly above 2021. Oceania continued its double-digit growth with an expansion of 5.2 GW, and South America had a capacity expansion of 18.2 GW. The Middle East recorded its highest increase in renewables on record, with 3.2 GW of new capacity added in 2022, an increase of 12.8%. Although hydropower accounted for the largest share of the global total renewable generation capacity with 1,250 GW, solar and wind continued to dominate new generating capacity. Together, both technologies contributed 90% to the share of all new renewable capacity in 2022. Solar led with a 22% (191 GW) increase, followed by wind, which increased its generating capacity by 9% (75 GW).

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