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Global cumulative renewable energy capacity by technology, 2023 (Gigawatts)

Global cumulative renewable energy capacity by technology, 2023 (Gigawatts) | HolonIQ
Solar PV leads in global cumulative renewable energy capacity with over 1400GW

Global cumulative renewable energy capacity by technology, 2023 (Gigawatts)

Source

IRENA

Date

14 May 2024

Notes

In 2022, the global renewable energy landscape was led by hydropower, with a capacity of over 1200 GW, leveraging its well-established infrastructure. However, solar photovoltaic (PV) technology emerged as the largest contributor with 1412GW added to global renewable energy capacity in 2023. The emergence of solar PV was propelled by the continual decline in solar panel costs, rendering solar energy increasingly affordable and accessible. This accessibility prompted a significant portion of the global population to embrace solar energy solutions, further increasing its cumulative capacity, particularly evident in China, which experienced a notable 55.2% increase in solar capacity in 2023. Onshore wind energy also gained momentum as nations ramped up investments to combat climate change. However, although offshore wind power is considered mature, the cost of generating electricity has increased by over 50%. Renewable energy sources originating from the marine environment are typically less advanced and firmly established than land-based counterparts and hence contribute the least to the global cumulative energy capacity. Collectively, the three primary renewable energy technologies—hydropower, solar PV, and onshore wind—constituted the majority of global renewable capacity.

License

CC BY 4.0