🗣 “The world is set to add a record-breaking amount of renewables to electricity systems – more than the total power capacity of Germany & Spain combined”
 
Read more from IEA Executive Director Fatih Birol on the latest trends in renewable energy markets → iea.li/3qbU9xi

We just released our latest Renewable Energy Market Update! 🚨

It shows renewable power - led by solar & wind - is on course to shatter more records as countries around the world speed up deployment.

Explore the analysis ⬇️ iea.li/3WIQ2Fe

This morning, we released our new Renewable Energy Market Update 📢

Don't miss this short thread from our Executive Director Fatih Birol running through some of the key findings 👇

International Energy Agency Achieving even stronger growth in renewables, which is necessary to meet the world's energy & climate goals, means addressing key challenges

Policies need to adapt to changing market conditions, and power grids have to be updated & expanded

Read more ⬇️ iea.li/43fjIwd

International Energy Agency Solar PV is driving the rapid growth in renewable capacity worldwide, accounting for two-thirds of the expected global increase this year & next.

The energy crisis has turbocharged demand for both large-scale plants & rooftop solar.

International Energy Agency's new report 👉 iea.li/43fjIwd

New from International Energy Agency!

The world is set to add over 440 gigawatts of renewable power capacity this year – a huge jump from last year & more than double what it added in 2019

Read more on how solar & wind are leading the emergence of the new energy economy ➡️ iea.li/3IKItrF

The latest edition of our Renewable Energy Market Update comes out tomorrow!

It explores how the energy crisis is affecting the deployment of renewables in major markets around the globe and the impacts on energy security & affordability.

Learn more 👉 iea.li/3C1YMgf

The world needs to build on the strong momentum in clean energy spending

Governments, industry & investors must work together to scale up investment, particularly in emerging & developing economies, in order to ensure a secure & sustainable transition 👉 iea.li/3qnBezy

Just 6️⃣ days to go until our 8th Annual Global Conference on Energy Efficiency! 🚨

Watch as Ministers, CEOs and other leading figures explore how boosting #EfficiencyAction can help ensure a cleaner and more secure & affordable energy future 👉 iea.li/434wiyd

The oil & gas industry had a record cash windfall in 2022 due to high fuel prices

But most of this has gone to dividends, share buybacks & debt repayment, rather than into energy investments. Only a small fraction has been spent on clean technologies 👉 iea.li/3qfDKrK

While global clean energy investment is seeing strong momentum, this growth has been uneven.

More than 90% of the increase in recent years is in advanced economies & China

Mobilising greater financing for emerging & developing economies is crucial ➡️ iea.li/42g6hKW

Investment in clean energy technologies by the oil & gas industry is less than 5% of what it spends on exploration & production

The industry can do far more to scale up clean energy options like renewables, low-emissions fuels, hydrogen & carbon capture: iea.li/43rRSfG

🗣 “Clean energy is moving fast – faster than many people realise. This is clear in the investment trends, where clean technologies are pulling away from fossil fuels”

More from IEA’s Fatih Birol on the accelerating momentum behind clean energy spending → iea.li/3INPoAr

Our newsletter went out yesterday, with info & analysis on our contributions to leaders' energy & climate discussions, the widening lead for clean energy investment over fossil fuels & much more.

📧 Read it here: iea.li/45wUGdD
✍️ Subscribe now: iea.li/42iFy0q

Global spending in clean energy is widening the gap over fossil fuels

5 years ago, for $1 invested in fossil fuels, the same went to clean energy.

This year, for $1 invested in fossil fuels, $1.70 is going to clean energy.

More in our new report 👉 iea.li/3MI94XA

Our 8th Annual Global Conference on Energy Efficiency kicks off in just 1️⃣ week! 📢

Global climate & energy leaders will explore how #EfficiencyAction can boost energy affordability & security, while accelerating progress towards climate goals.

Follow their discussions LIVE ⬇️

Renewables - led by solar - & electric cars are spearheading the expected increase in global clean energy investment this year

But faster growth is needed in other key areas like efficiency, grids & batteries in order to reach climate & energy goals → iea.li/3OLxr9G

While global clean energy investment is seeing strong momentum, this growth has been uneven.

More than 90% of the increase in recent years is in advanced economies & China

Mobilising greater financing for emerging & developing economies is crucial ➡️ iea.li/425JJwG

In a year when global electricity demand rose by 2%, the European Union was the only major region where demand declined substantially in 2022 - falling by 3%

Read more in our latest commentary on what drove this drop in 🇪🇺’s electricity consumption 👉 iea.li/3C0a8kA