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Global renewable energy generation capacity amounted to 3372 Gigawatt (GW) by the end of 2022. This represents 295 GW or 9.6 percent growth in the stock to renewable energy. Moreover, 83 per cent of all power capacity added last year was produced by renewables.

This development was revealed in Renewable Capacity Statistics 2023 report, released by the International Renewable Energy Agency (IRENA). The report shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fuelled power generation.

While many countries increased their renewable capacity in 2022, the significant growth of renewables is persistently concentrated in a few countries and regions like Asia, the USA and Europe. IRENA’s data finds that almost half of all new capacity in 2022 was added in Asia, resulting in a total of 1.63 Terawatt (TW) of renewable capacity by 2022. China was the biggest contributor, adding 141 GW to the continent’s new capacity.

Growth was recorded in renewable hydropower capacity, wind energy, solar energy, bioenergy, and geothermal energy.