The International Energy Agency (IEA) recently revealed in its Renewables 2023 report that the global expansion of renewable energy capacity experienced an astonishing 50 percent surge last year. Solar energy spearheaded this growth, constituting three-quarters of the overall expansion.
China, the world’s second-largest economy, emerged as the front-runner in renewable energy growth. Wind power additions in the country rose by an impressive 65 percent year-on-year. This remarkable feat contributed significantly to the global upswing.
