Renewable power surge fuels progress toward COP28 tripling goal

The IEA has reported a 50% surge in global renewable capacity in 2023, nearly reaching 510 GW, with China leading in solar PV. Projections show global capacity growing exponentially and hitting 7,300 GW by 2028.

To meet the COP28 goal of tripling renewables by 2030, increased financing and investment in power grids is crucial, especially in emerging economies.