Solar led renewable energy capacity growth to 2022

According to a study conducted by the International Renewable Energy Agency (IRENA), solar energy will account for around 65% of the growth in global renewable energy capacity in 2022.

IRENA's Renewable Capacity Statistics 2023 shows that total solar installations in 2022 will be 192GW, a year-on-year increase of 22%. Last year, renewable energy generation capacity increased by 295GW (+9.6%), meaning that solar capacity accounted for 65.1% of the global increase in renewable energy capacity.

Geographically, Asia saw the most significant solar growth, with a total installed capacity of 112GW, up from 75GW in 2021. China, India and Japan saw the most significant increases in installed capacity, adding 86GW, 13.5GW and 4.6GW respectively.

In the Americas, the US added 17.6GW of new solar capacity in 2022, while Brazil added 9.9GW. In Europe, the Netherlands and Germany grew by 7.7GW and 7.2GW respectively.

More broadly, solar and wind continue to lead the expansion of renewable energy capacity, together accounting for 90.5% of all net additions to renewable energy in 2022. Growth in wind and solar led to the highest annual increase in renewable electricity generation and the second highest growth rate in percentage terms, IRENA said.

The study also examined the renewable generation capacity of different energy sources. As of the end of last year, the global installed capacity of renewable energy power generation was 3.37TW, of which the installed capacity of solar energy was 1.05TW, accounting for 31.2%. Renewable hydropower accounted for the largest share of the global total, with a capacity of 1.25TW. Wind energy (899GW) came in third, accounting for 27% of total renewable capacity.

"This continued record growth demonstrates the resilience of renewable energy amidst the lingering energy crisis," said IRENA Director General Francesco La Camera.

“The strong business case for renewables coupled with enabling policies keeps its share of the global energy mix on an upward trend year by year. But if we want to stay on track to limit global warming to 1.5°C, new renewable energy capacity must be tripled from current levels," he added.