A new report from the International Renewable Energy Agency (IRENA) has revealed that clean energy capacity continued to grow worldwide in 2023. Governments around the world are expanding their solar, wind, and electric battery operations in an effort to transition away from dirty-energy sources such as coal, oil, and gas. Despite facing challenges such as high interest rates, inflation, and the high cost of building materials, the clean-energy industry experienced record growth in 2023.
According to the report, solar energy led the charge in clean-energy growth, with China, Europe, and the United States installing more solar arrays in 2023 than in any previous year. Solar energy has become the cheapest form of electricity for the majority of countries, making it an attractive option for clean and renewable energy.
In the United States, the Inflation Reduction Act played a significant role in incentivizing the addition of solar capacity. The act fueled investments and led to the announcement of over 60 solar manufacturing facilities in the past year, as stated by Abigail Ross Hopper, the president of the Solar Energy Industries Association.
While wind energy faced challenges in 2023, including high costs that resulted in some project cancellations or delays, the future still looks promising for wind energy projects, particularly offshore wind. The United States has multiple offshore wind projects in development that will contribute to the clean energy grid.
Battery production also saw growth in 2023, indicating positive prospects for the electric vehicle industry. The decreasing cost of batteries makes electric vehicles more affordable for most Americans, according to Paul Braun, a University of Illinois professor of materials science and engineering.
Overall, the report highlights the progress and potential of clean energy in various markets around the world. The continuous growth of clean energy capacity signifies a promising shift towards a cleaner and more sustainable energy future.
(Note: This rewrite does not include the irrelevant content within the
