/LONDON, December 18, 2023, 10:00 GMT, RENEWABLE MARKET WATCHTM/ The global renewable energy capacity growth is going to reach a new record level at the end of 2023. The world is in a global energy crisis that has not been seen for decades. The main drivers of this crisis were the growth of commodity prices since 2020 due to the COVID-19 pandemic and recovery period, the disruption of supply chains, Russia’s invasion of Ukraine in 2022 and the military conflict in Israel and Gaza in 2023. However, according to the Renewable Market Watch™, the newly installed global renewable energy capacity will grow by more than 3500 GW by 2032. There is no power to stop the progress of renewables for the following ten years.
In the past two years, the Renewable Market Watch™ supported several important renewable energy events and initiatives, such as SolarPower Summit 2022, REUTERS Utility Scale Solar and Wind Europe Conference and Exhibition 2022, Romanian Renewable Energy Summit 2022, RE-Source Southeast 2022, SolarPlaza Summit Balkans 2022, RE-Source Southeast 2023, Romanian Solar Summit 2023, SolarPlaza Summit Romania 2023, Reuters Events Offshore and Floating Wind 2023, SolarPlaza Summit Balkans 2023 and others.
By 2032, global cumulative renewable electricity capacity is forecast by the Renewable Market Watch™ to rise more than 70% from 2023 levels to over 6 800 GW – more than the current total global power capacity of fossil fuels and nuclear combined. Renewables are set to account for almost 95% of the increase in global power capacity through 2027, with solar PV alone providing more than half. Solar PV will be the most installed power capacity worldwide by 2027 and surpass coal, natural gas and hydropower.
The European climate law makes reaching the EU’s climate goal of reducing EU emissions by at least 55% by 2030 a legal obligation. EU countries are working on new legislation to achieve this goal and make the EU climate-neutral by 2050
Christmas Greetings and Best Wishes for a Happy and Prosperous New 2024 Year filled with health, happiness, and beautiful emotions.
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Global Renewable Energy Market Outlook 2023 ÷ 2032
Europe Corporate Renewable PPA Market Report 2023 ÷ 2032
Europe Solar Photovoltaic (PV) Market Outlook 2023 ÷ 2032
Europe Net Metering and Self-Consumption Solar PV Market Outlook 2023 ÷ 2032
Central-East and South-East Europe Solar Photovoltaic (PV) Power Market Outlook 2023 ÷ 2032
Western Balkans Solar Photovoltaic (PV) Power Market Outlook 2023 ÷ 2032
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About Renewable Market Watch™
Renewable Market Watch™ is delivering strategic insight into emerging renewable energy markets through its experienced research team and cutting-edge predictive analytics data platform. We partner with our customers to provide research, data and consulting reports in areas appropriate to their specific requirements. Our primary focus is emerging renewable energy markets of Asia Countries, Balkan countries, Central and Eastern Europe, CIS states (former the Soviet Union), LATAM countries and MENA countries. Our market reports are featured in reputable international media such as Bloomberg, Yahoo Finance and others. For more information about Renewable Market Watch™, please visit:
