Among the noteworthy accomplishments at COP28, the commitment to tripling renewables emerges as a pivotal energy pledge with the potential to drive a substantial 30% reduction in emissions by 2030.
To gain insights into the current global landscape of renewable energy, IRENA’s latest Renewable Energy Statistics provide a comprehensive overview.
Asia contributed to nearly 60% of the new renewable capacity added in 2022. The region experienced an outstanding surge, boosting its renewable capacity by an impressive 174.9 gigawatts (GW), reaching an astounding 1.63 terawatts (TW) and accounting for 48% of the global total.
China played a pivotal role to this remarkable growth adding a substantial 141 GW to its renewable capacity.
Europe and North America demonstrated substantial progress in expanding their renewable capacities. Europe experienced a noteworthy 8.8% growth, adding 57.3 GW, while North America contributed an additional 29.1 GW, reflecting a commendable 6.3% increase.
Africa continued its positive trajectory in renewable energy adoption, witnessing a growth of 2.7 GW, a 4.8% increase over the previous year. This reflects the continent’s ongoing efforts to embrace sustainable and clean energy solutions.
Oceania, led by Australia and neighboring nations, maintained its impressive double-digit growth, expanding its renewable capacity by 5.2 GW—a remarkable growth rate of 10.6%.
South America also continued its upward trend in renewable energy adoption, with a substantial capacity expansion of 18.2 GW, marking a commendable growth rate of 7.4%. This emphasizes the region’s commitment to diversifying its energy portfolio and reducing reliance on traditional fossil fuels.
In a surprising development, the Middle East recorded its highest expansion on record in 2022, adding 3.2 GW in new capacity—a notable growth rate of 12.8%. This signals a significant shift in the region’s energy landscape, indicating a growing interest in and adoption of renewable energy sources.
The substantial global growth in renewable capacities stands as a testament to collaborative efforts aimed at mitigating the impact of climate change. It reveals that the energy pledges made at COP28 are within reach as concerted efforts are unified to address the challenges of climate change on a global scale.