Recently, the International RenewableEnergy Agency released a report showing that in 2023, the global renewableenergy power installed capacity again set a new record, an increase of 473 GW,and the cumulative installed capacity exceeded 3,870 GW. However, the agencypointed out that although the development of renewable energy continues toaccelerate, the problem of uneven distribution of geographical andtechnological deployment has become prominent, and more attention should bepaid to the energy transition process in developing countries in the future topromote the joint development of all regions of the world.

According to the data of the InternationalRenewable Energy Agency, in 2023, the cumulative installed capacity of globalrenewable energy increased by 13.9% year-on-year, and wind power andphotovoltaic installed capacity are the absolute protagonists, with the newscale accounting for 98% of the total increase. By the end of 2023, thecumulative installed capacity of photovoltaic, hydropower and wind power rankedthe top three, accounting for 37%, 33% and 26% of the total installed capacityof renewable energy, respectively.

In the development of renewable energy, thephotovoltaic industry is particularly prominent, and with the continuousdecline in costs and the frequency of favorable policies, it has increasinglybecome the incremental subject in the field of renewable energy. Among them,China led the development of global PV installed capacity, the new PV installedcapacity reached 216.9 GW, accounting for 91.2% of the increase in Asia. At thesame time, from a global point of view, in 2023, the new photovoltaic installedcapacity of 346 GW, an increase of up to 32.2%, reaching 73% of the installedcapacity of renewable energy, not only a single year growth record, but alsorefresh the market share growth record.

Although the development of renewableenergy is "boundless", the International Renewable Energy Agency alsopointed out that the pace of global energy transition is not consistent, andthe growth rate of renewable energy installed capacity is also significantlyuneven. Regionally, driven by the Chinese market, Asia led the way in renewableenergy development, accounting for about 69 percent of the global total. Duringthe same period, the installed capacity of renewable energy in Europe increasedby 71.2 GW, the installed capacity in North America increased by 34.9 GW, andthe installed capacity in South America increased by 22.4 GW, which is also thelargest increase in renewable energy installed capacity in the world.

In contrast, in 2023, Africa's renewableenergy installed capacity will increase by only 2.7 gigawatts, and thecumulative installed capacity will be 62 gigawatts, accounting for only 1.6% ofthe global total. Last year, the Middle East added 5.1 GW of renewable energyinstalled capacity, although a new record for the region, but the cumulativeinstalled capacity of renewable energy in the region is 36 GW, accounting forless than 1% of the global total.

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