Global renewable energy deployment set a record in 2023 as transition efforts continued, but it fell short of levels required to triple capacity by 2030, according to the International Renewable Energy Agency (Irena).
Renewable energy capacity in the power sector grew by 473 gigawatts from 2022 to 3,870 gigawatts last year, the Abu Dhabi-based agency said in a report on Wednesday.
Although renewables accounted for 86 per cent of total capacity additions in the energy sector globally, compared to 84 per cent in 2022, the growth was unevenly distributed across the world, the agency said.
“This extraordinary surge in renewable generation capacity shows that renewables are the only technology available to rapidly scale up the energy transition aligned with the goals of the Paris Agreement,” said Francesco La Camera, Irena’s director-general.
“Nevertheless, the data also serves as a telltale sign that progress is not moving fast enough to add the required 7.2 terawatts of renewable power within the next seven years,” Mr La Camera added.
The Middle East last year recorded its highest renewable capacity expansion on record, up 16.6 per cent annually, with 5.1 gigawatts of new capacity commissioned last year.
Total capacity is currently at 36 gigawatts, with the region accounting for 0.9 per cent global share.
Overall, Asia accounted for the biggest expansion of renewable energy capacity last year, making up about 69 per cent of the total increase.
The region grew its renewable capacity by 327.8 gigawatts to reach 1,961 gigawatts, accounting for 50.7 per cent of the global total.
China, the world’s second-largest economy, played a significant role in this expansion, with its capacity increasing by 63 per cent to reach about 298 gigawatts.
The rising competitiveness of solar and wind energy compared with coal and natural gas has driven renewable power development in the country, Irena said.
Capacity in Europe and North America expanded by 71.2 gigawatts (up 10 per cent) and 34.9 gigawatts (up 7 per cent), respectively.
Renewable energy capacity growth in the EU was supported by policy focus and energy security concerns, alongside the improving cost-competitiveness of renewables versus fossil fuels, Irena said.
As a group, the G7 countries increased their capacity by 7.6 per cent, adding 69.4 gigawatts last year. Meanwhile, the G20 nations boosted their capacity by 15 per cent, reaching 3,084 gigawatts.
Oceania's installed capacity increased by 9.4 per cent, largely due to Australia, while South America reported expansion of 8.4 per cent annually.
Africa also recorded modest renewable energy capacity increase of 4.6 per cent, resulting in a total capacity of 62 gigawatts.
Financing renewable energy projects is considered challenging in Africa due to limited access to capital, high upfront costs and perceived investment risks.
Africa requires $2.8 trillion between 2020 and 2030 to implement its nationally determined contributions under the Paris Agreement, according to the Climate Policy Initiative.
“Policy interventions and a global course-correction are urgently needed to effectively overcome structural barriers and create local value in emerging market and developing economies,” Mr La Camera said.
“The patterns of concentration in both geography and technology threaten to intensify the decarbonisation divide and pose a significant risk to achieving the tripling target,” he added.
However, to achieve the global target of more than 11 terawatts for the tripling goal, the G20 members alone must reach 9.4 TW of renewable power capacity by 2030, the report said.
At the Cop28 climate conference in Dubai last year, more than 100 countries committed to triple renewable energy capacity worldwide by the end of the decade and double the annual rate of energy efficiency improvements.
However, China and India – two of Asia's largest economies – refrained from signing the pledge.
The countries also did not agree with initial drafts of the final agreement that included curbs on investments in coal-fired power plants.
The delegates ultimately settled on a milder agreement to “accelerate efforts towards the phase-down of unabated coal power”.
Although India and China – two of the most populous countries in the world – have set ambitious clean energy targets, they intend to rely on coal for the longer-term to meet growing power demand.
Coal accounts for around three-quarters of India's power generation and nearly 61 per cent of China's.
Renewable energy is set to make up more than one-third of total electricity generation by early 2025, overtaking coal, according to the International Energy Agency.
Global power demand will grow at a faster rate over the next three years as the energy transition gathers pace, with low-emission technologies expected to meet the additional increase in consumption, the Paris-based agency said in its Electricity 2024 report in January.
Earlier this year, the IEA said that the rate of expansion of global renewable energy capacity surged by 50 per cent in 2023, with solar accounting for three-quarters of the growth.
According to Irena, solar accounted for 73 per cent of the renewable growth last year, reaching 1,419 gigawatts, followed by wind power with a 24 per cent share.
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
UAE currency: the story behind the money in your pockets
Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
Available: Now
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
MATCH INFO
Uefa Champions League, Group B
Barcelona v Inter Milan
Camp Nou, Barcelona
Wednesday, 11pm (UAE)
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%20Twin-turbocharged%204-litre%20V8%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E542bhp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E770Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3EEight-speed%20automatic%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh1%2C450%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
The%20end%20of%20Summer
%3Cp%3EAuthor%3A%20Salha%20Al%20Busaidy%3C%2Fp%3E%0A%3Cp%3EPages%3A%20316%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20The%20Dreamwork%20Collective%C2%A0%3C%2Fp%3E%0A
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
LAST-16 FIXTURES
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
ALRAWABI%20SCHOOL%20FOR%20GIRLS
%3Cp%3ECreator%3A%20Tima%20Shomali%3C%2Fp%3E%0A%3Cp%3EStarring%3A%C2%A0Tara%20Abboud%2C%C2%A0Kira%20Yaghnam%2C%20Tara%20Atalla%3C%2Fp%3E%0A%3Cp%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
MATCH INFO
What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
Company%C2%A0profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3Eamana%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2010%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Karim%20Farra%20and%20Ziad%20Aboujeb%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EUAE%3Cbr%3E%3Cstrong%3ERegulator%3A%20%3C%2Fstrong%3EDFSA%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinancial%20services%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E85%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESelf-funded%3Cbr%3E%3C%2Fp%3E%0A
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
THE%C2%A0SPECS
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.4-litre%20four-cylinder%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20210hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Starting%20from%20Dh89%2C900%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3C%2Fp%3E%0A
Earth under attack: Cosmic impacts throughout history
- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon
- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.
- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater
- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.
- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.
- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.
-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.
ASSASSIN'S%20CREED%20MIRAGE
%3Cp%3E%0DDeveloper%3A%20Ubisoft%20Bordeaux%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsoles%3A%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20Series%20S%26amp%3BX%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Price, base / as tested From Dh173,775 (base model)
Engine 2.0-litre 4cyl turbo, AWD
Power 249hp at 5,500rpm
Torque 365Nm at 1,300-4,500rpm
Gearbox Nine-speed auto
Fuel economy, combined 7.9L/100km
Best Foreign Language Film nominees
Capernaum (Lebanon)
Cold War (Poland)
Never Look Away (Germany)
Roma (Mexico)
Shoplifters (Japan)
