Nia Vardalos at 63: Greek Beauty More Stunning Than Ever – World Star – Newsy Today

In a landmark report released today, the International Renewable Energy Agency (IRENA) highlighted that global renewable energy capacity additions reached record levels in 2023, driven by surging solar and wind installations. The agency noted that over 300 gigawatts (GW) of new renewable capacity was added last year, marking a 12% increase from 2022.

Francesco La Camera, Director-General of IRENA, emphasized that the shift to renewable energy represents both an environmental necessity and a growing economic opportunity, driving job creation and lowering energy costs across the globe.

Solar energy led the expansion, accounting for 70% of total additions, while wind energy contributed 25% of the growth. Hydropower and bioenergy also saw significant increases, though at a slower pace. The report underscores that more than 3,000 gigawatt-hours (GWh) of renewable energy were generated annually by the end of 2023, surpassing coal for the first time in history.

Regional disparities remain pronounced, with Asia dominating the growth, particularly China, which alone added over 150 GW of new capacity. Europe and North America followed, though at a much slower pace. Africa and Latin America, while growing rapidly, still lag behind, with their combined renewable capacity additions accounting for less than 10% of the global total.

IRENA’s analysis projects that if current trends continue, renewable energy could supply 60% of global electricity by 2030, up from just 30% in 2022. However, the agency warns that trillions of dollars annually will be required to meet the Paris Agreement targets by 2030.

The report also addressed challenges, including grid integration issues and supply chain bottlenecks, which have delayed projects in some regions. Despite these hurdles, IRENA remains optimistic, stating that renewables are now the cheapest energy source in most parts of the world.
• Renewable energy additions hit a record 300 GW in 2023, up 12% from the previous year.
• Solar and wind together made up 95% of new capacity, with solar alone responsible for 70%.
• China led with over 150 GW of new installations.
• Renewables now supply 30% of global electricity, with projections of 60% by 2030.
• Annual investment needs for Paris Agreement goals stand at trillions of dollars.…Read more by Chief Editor