Zoom Image

New solar modules on the roof of a house in Nettersheim, North Rhine-Westphalia

Photo: Oliver Berg / dpa

The International Energy Agency (IEA) expects record growth in renewable energy production this year. "Global renewable energy capacity build-up is expected to skyrocket by a third this year on the back of growing political support, rising fossil fuel prices and concerns about energy security," according to an IEA report released Thursday. According to the report, the production of solar power is likely to grow particularly strongly.

The IEA also expects this growth to continue in the coming year. The total production of renewable energies is then expected to rise to 4500 gigawatts – equivalent to the total electricity production of China and the USA.

According to the report, the increase is due in particular to China. Already in 2022, the expansion of renewables in the People's Republic was responsible for almost half of the global capacity increases. By 2024, the share is expected to rise to 55 percent.

According to the report, photovoltaics accounted for two-thirds of the expected expansion of production facilities for green electricity in 2023. This trend will continue in 2024. "The development of large-scale photovoltaic systems goes hand in hand with the growth of smaller systems," say the experts. Consumers are therefore trying to reduce their bills in view of the increased electricity prices, for example with small systems on roofs.

The agency also expects strong growth in wind energy after two years of global production difficulties. From 2023, the implementation of a number of projects that had previously been postponed due to supply problems can be expected. Nevertheless, unlike photovoltaics, the supply chains for the construction of new wind turbines did not develop well quickly in order to satisfy demand in the medium term.