IRENA reports record global renewable capacity additions in 2023

The International Renewable Energy Agency (IRENA) said global renewable‑energy capacity additions reached a record 300 GW in 2023, a 17 % increase over the previous year. Solar power accounted for nearly half of the new capacity, while wind installations surged, especially in Europe and the United States.

IRENA Director‑General Francesco La Camera noted, “The renewable energy transition is accelerating, driven by falling costs and policy commitments.” The agency highlighted that China contributed almost half of all solar installations, with emerging markets in Africa also expanding.

Despite the growth, the report warns of supply‑chain bottlenecks, permitting delays and a need for investment to rise from $350 billion in 2022 to over $1.3 trillion by 2030 to keep the transition on track.