According to the IEA, 320 Gigabits of renewable capacity will be installed this year, the equivalent of Germany’s annual consumption, up from a previous record of 295 Gigabits in 2021. The agency said last year’s advance was boosted by the expansion of capacity. photovoltaic power in China and Europe, despite blockages along supply chains, construction delays and high commodity prices.
“Recent developments in the energy market, especially in Europe, have once again demonstrated the key role that renewables play in improving energy security, in addition to their well-proven efficiency in reducing emissions,” said the IEA Executive Director. , Fatih Birol, informs Agerpres.
The impact of the COVID-19 pandemic and Russia’s invasion of Ukraine have brought inflation to its highest level in decades amid soaring energy prices, so decision-makers are struggling to find cheap and secure energy sources.
However, the IEA warns that the upward trend in renewable energy could slow down next year.
“In the absence of sound policies, the world’s added renewable capacity is expected to stagnate in 2023, as progress in photovoltaic capacity will be offset by a slowdown in hydroelectric capacity expansion and stagnant growth in wind capacity,” the IEA warns.
The International Energy Agency is the leading energy advisory body in the 29 most developed countries. The agency was set up in response to the first oil shock from 1973 to 1974 to coordinate the release of oil from reserve stocks.
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