Global renewable capacity additions 2011-2023

In 2023, a capacity of 536 gigawatts of renewable energy was added worldwide, a significant increase in comparison to the capacity additions of the previous year. Net capacity additions for renewable energy reached its highest point thus far in that year. 

Where is the market growing?

The world's renewable energy consumption is increasing steadily. China consumed over a quarter of renewable energy worldwide in 2023, followed by the United States, Canada, India, and Germany. Germany has consistently expanded its renewable capacity each year, largely through wind power installations. In 2023, Germany's renewable capacity amounted to 167 gigawatts.

Renewable targets in Europe

On average, the European Union aimed to source roughly 20 percent of gross final energy consumption from renewables by 2020. For 2030, The European Union has set a target of at least 42.5 renewables in final energy consumption. Buildings are expected to reach the highest renewable share, with a target of 69 percent.