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Global renewable energy capacity increased by almost 50% in 2023

China is the main driver of this growth. The Asian country installed as much solar PV in 2023 as was installed worldwide in 2022.

The International Energy Agency (IEA) released a report revealing unprecedented growth in the installation of renewable energy capacity globally. Annual global renewable capacity additions increased by nearly 50% to nearly 510 gigawatts (GW) in 2023, the fastest growth rate in the past two decades. This is the twenty-second year in a row that renewable capacity additions have set a record.

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