IRENA: 345.5GW Of New Photovoltaic Systems Will Be Added Globally in 2023

According to a recently released "Renewable Energy Capacity Statistical Report 2024" by the International Renewable Energy Agency (IRENA), global photovoltaic system developers installed 345.5GW of photovoltaic systems in 2023. China's PV market has largely driven this growth, accounting for nearly three-quarters of new PV system installations worldwide, but the International Renewable Energy Agency (IRENA) says faster growth is needed to meet 2030 PV deployment targets .

Official data released by the International Renewable Energy Agency (IRENA) in this report shows that the world's newly installed photovoltaic system capacity in 2023 will be 345.5GW.

However, this data is very different from the data released by research organization Bloomberg New Energy Finance in February this year, which stated that the world's newly installed photovoltaic system capacity in 2023 will be approximately 444GW.

This figure from the International Renewable Energy Agency (IRENA) represents a 32.2% increase compared to 2022, indicating that the global photovoltaic market has once again set an annual installation record. The installed capacity of photovoltaic systems worldwide last year accounted for approximately 73% of the total installed capacity of renewable energy power generation facilities of 473GW.

The agency stated that China's newly installed photovoltaic system installed capacity last year was 216.9GW, accounting for 63% of the world's newly installed photovoltaic system installed capacity, while Asia's newly installed photovoltaic system installed capacity was 237.7GW. In 2023, the newly installed photovoltaic system capacity in the United States, Germany and Brazil will be 24.8GW, 14.3GW and 11.9GW respectively.

However, the International Renewable Energy Agency (IRENA) stated that the growth of newly added photovoltaic system installed capacity varies greatly across countries, and that the world's installed renewable energy capacity needs to triple to 11TW by 2030, otherwise it will be impossible to achieve risks to this goal.

Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), said that in the next ten years, in order to keep the earth's temperature rise within 1.5 degrees Celsius, the world will need to add about 1050GW of renewable energy every year. This view is in line with a recently released echoes the findings of this report.

He said, "Policy intervention and global course correction are urgently needed to effectively overcome the structural barriers to global energy and create value in emerging market and developing economies around the world, many of which are still lagging behind in this process. And patterns of geographical and technological concentration have the potential to exacerbate the decarbonization gap and pose significant risks to achieving global renewable energy deployment targets."

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