A new report concludes that, by the end of 2022, global renewable generation capacity amounted to 3,372 gigawatts (GW), representing a record growth of 295 GW or 9.6%, compared to last year.
The International Renewable Energy Agency (Irena) released a new report, entitled In the document, it concludes that, by the end of 2022, global renewable generation capacity amounted to 3,372 gigawatts (GW), which represented a record growth of 295 GW or 9.6 %, compared to last year.
"This continued record growth shows the resilience of renewables amid the persistent energy crisis," said Irena CEO Francesco La Camera. "The strong business case for renewables, coupled with favorable policies, has maintained an upward trend in their share of the global energy mix year after year. But annual renewable energy capacity additions must triple the current level by 2030 if we are to stay on track to limit global warming to 1.5°C." (You can also read: "Director has not resigned nor has he been asked to resign": Risk Management Unit)
The increase in renewable energies, the document highlights, occurs despite an uncertain world energy scenario, such as the energy crisis caused by the Russian invasion of Ukraine, which confirms, Irena adds, the global trend of decreasing energy generated by fossil fuels.
Although there were several countries that increased their installation of renewables, the report found that there are certain places where the increase was concentrated, such as Asia, the United States and Europe. The data indicates that nearly half of all new capacity in 2022 was added in Asia, totaling 1.63 Tterawatts (TW) of renewable capacity by 2022. China was the largest contributor, adding 141 GW to the continent's new capacity.
Meanwhile, renewables grew by 57.3 GW and 29.1 GW in Europe and the United States, respectively. Africa increased its capacity by 2.7 GW, slightly higher than last year, while Oceania saw an expansion of 5.2 GW. South America recorded a capacity expansion of 18.2 GW. The Middle East recorded its largest renewables increase on record, with 3.2 GW of new capacity last year, an increase of 12.8%. (You may be interested in: Here's why some beaches are disappearing in Colombia.)
A few days ago, the platform (GEM) recorded through a new report that, by 2030, Latin America has the potential to be an energy giant, because, if all renewable projects that are scheduled are fulfilled, the region has the potential to increase by more than 460% renewable generation.
According to these data, by the end of the decade Latin America could have 319 gigawatts (GW) of new installed capacity. To better dimension the figure, this is something like 132 times the capacity of Hidroituango.
The Irena document highlights that although hydropower accounted for the largest share of total global renewable generation capacity, with 1,250 GW, solar and wind continue to dominate new generation capacity. "Together, both technologies contributed 90% to the share of all new renewable capacity in 2022. Solar capacity led the way with a 22% increase, followed by wind, which increased its generating capacity by 9%," the paper notes.
"With energy demand expected to increase in many regions of the world, the energy transition requires a step change that involves a strategic shift beyond decarbonizing supply. Any expansion of new non-renewable energy capacity in light of recent global developments must be connected to efforts to accelerate the energy transition to make the system more resilient, inclusive and climate-resilient."