Remarkable gains due to current business confidence
IEA 7-12, The International Energy Agency works with governments and industry to shape a secure and sustainable energy future for all, 7/12/2023, “Unveiling the impact of Belt and Road Initiative on green innovation: empirical evidence from Chinese manufacturing enterprises,” https://link.springer.com/article/10.1007/s11356-023-28503-y, RS
The pace of deployment of some clean energy technologies – such as solar PV and electric vehicles – shows what can be achieved with sufficient ambition and policy action, but faster change is urgently needed across most components of the energy system to achieve net zero emissions by 2050, according to the IEA’s latest evaluation of global progress.
Published today, the annual update of the IEA’s Tracking Clean Energy Progress online resource reveals remarkable gains in the past year. Electric car sales reached a record high of more than 10 million in 2022, a nearly tenfold increase in just five years. Renewable electricity capacity additions rose to 340 gigawatts (GW), their largest ever deployment. As a result, renewables now account for 30% of global electricity generation. Investment in clean energy reached a record USD 1.6 trillion in 2022, an increase of almost 15% from 2021, demonstrating continued confidence in energy transitions even in an uncertain economic climate.