Clean energy is entering the energy system at an unprecedented rate, including more than 560 gigawatts (GW) of new renewables capacity added in 2023, as per the World Energy Outlook 2024 report released by International Energy Agency (IEA) earlier this month.
Among them, China accounted for 60%– and China’s solar PV generation alone is on course to exceed, by the early 2030s, the total electricity demand of the United States today, the report notes.
“The world has the need and the capacity to go much faster… A new energy system needs to be built to last: this means prioritising security, resilience and flexibility, and ensuring that the benefits of the new energy economy are shared.” The report says.
