World added 50% more renewable capacity in 2023 than in 2022 and next 5 years will see fastest growth yet, but lack of financing for emerging and developing economies is key issue

The amount of renewable energy capacity added to energy systems around the world grew by 50% in 2023, reaching almost 510 gigawatts (GW), with solar PV accounting for three-quarters of additions worldwide, according to Renewables 2023, the latest edition of the IEA’s annual market report on the sector. The largest growth took place in China, which commissioned as much solar PV in 2023 as the entire world did in 2022. Advanced Soltech is active on the worlds largest and most fastgrowing market for solar energy.