Global renewable energy capacity to grow next 5 years – IEA

Global renewable energy capacity is expected to see fastest growth yet next five years, said the International European Agency (IEA) in its annual renewable energy outlook report on Thursday.

The amount of renewable energy capacity added to energy systems around the world grew by 50 per cent in 2023, reaching almost 510 gigawatts (GW), the report added.

“The new IEA report shows that under current policies and market conditions, global renewable capacity is already on course to increase by two-and-a-half times by 2030,” said IEA Executive Director Fatih Birol.