International. Clean energy boomed last year, thanks to a significant increase in the capacity added to energy systems around the world compared to 2022.
Additional renewable electricity capacity reached 507 gigawatts (GW) in 2023, while solar PV accounted for three-quarters of global additions, according to the International Energy Agency's (IEA) 'Renewables 2023' report.
Growth of renewable energy
China saw the most significant growth, bringing into service during 2023 the same volumes of solar PV as the entire world a year earlier, while the country's wind power additions increased by 66% year-on-year.
In addition to China, the United States, Europe, and Brazil also saw unprecedented increases in their renewable energy capacity.
Renewable energy capacity is expected to continue to grow over the next five years with solar PV and wind installations accounting for 96% of new capacity during the period.
Additions are projected to double by 2028 compared to 2022 levels, reaching nearly 710 GW.
"The IEA's new report shows that global renewable capacity is on track to increase two-and-a-half times by 2030. It is still not enough to reach the COP28 target, but we are getting closer and governments have the tools to close the gap," said IEA Executive Director Fatih Birol.
Renewable Energy Challenges
The COP28 climate talks in the United Arab Emirates called for tripling renewable energy capacity and doubling energy efficiency improvements by 2030.
"The real battle here will be between the 20 largest economies, which are also the 20 largest emitters in the world," John Kerry, the U.S. special presidential envoy for climate, said at the World Economic Forum's most recent meeting in Davos.
In addition, it has been considered that for countries to succeed in this massive infrastructure deployment, the transition must address issues of permitting, land use, community acceptance 
, and biodiversity.
"What we see now is that we have more renewable projects in the permitting process, than under construction," said Kadri Simson, the European Union's Commissioner for Energy, who suggested "shortening permits" and "ensuring that these renewable facilities are connected to the grid."
Another challenge is to ensure that clean energy adoption is uniform around the world. Global efforts to achieve a just energy transition have been hampered by countries shifting their focus to energy security in the wake of political polarization and events such as Russia's invasion of Ukraine, the World Economic Forum notes.
Change in energy demand
The World Economic Forum has identified three factors that could help companies and countries bring about changes in the way energy is consumed. Two are simple measures: improving energy efficiency through improvements funded by reduced operating expenses, and boosting energy efficiency through capital expenditures.
The final lever is "value chain collaboration" to reduce carbon intensity, where companies work directly with suppliers and other stakeholders to reduce energy impact, cut costs, and move towards net-zero emissions.
