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Trends and Insights

13 Jan 2024

Renewable Energy Sets Record Growth in 2023

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In 2023, global renewable energy capacity [surged by 50% to 510 gigawatts](, marking the 22nd consecutive year of growth. The expansion, largely due to solar PV and wind, aligns with pledges made at Cop28 to triple renewable capacity by 2030, thus potentially enabling the intended decrease in fossil fuel reliance.