A boom in Chinese solar power construction drove another record-breaking year of renewables growth in 2023, according to the International Energy Agency (IEA).
Carbon Brief analysis of figures in the IEA’s Renewables 2023 report show that the world is now on track to build enough solar, wind and other renewables over the next five years to power the equivalent of the US and Canada.
Rapid growth has also pushed the IEA to once again significantly upgrade its renewables forecast, adding an extra 728 gigawatts (GW) of capacity to a five-year estimate it made just a year ago. This is more than the electricity capacity of Germany and India combined.
The agency attributes this growth to plummeting costs of solar power and favourable policy regimes, particularly in China. New solar and onshore wind now provide cheaper electricity than new fossil fuel power plants almost everywhere, it says, as well as being cheaper than most existing fossil fuel assets.
Despite such accelerated expansion, the world is not currently on track to achieve the COP28 target of tripling renewables capacity by 2030, according to the IEA.
However, it proposes various measures to further increase deployment, including more finance for developing countries.
‘Step change’
Last year was a “step change for renewable power growth” as the world built an extra 507GW of renewable capacity, primarily solar and wind power, according to the IEA.
This was a 49% increase on the previous year’s construction. It marked the 22nd year in a row that renewable capacity addition reached record levels.
Over the six-year period 2023-2028, an additional 3,684GW of renewables is expected to come online under the IEA’s “main” forecast. This is double the current total of renewable capacity installed globally.
In 2023, solar power both at utility-scale and on rooftops amounted to three-quarters of capacity additions, primarily due to growth in China. Over the next five years, 73% of the 3,174GW of new capacity will be solar, again driven largely by China. (See: China leads.)
By Carbon Brief’s calculations, this 2024-2028 period is on track to see an extra 4,963 terawatt-hours (TWh) of electricity generation from renewable sources.
This amounts to one-sixth of the world’s electricity output in 2022. As the chart below shows, this is equivalent to covering the entire electricity demand of the US and Canada with newly-built renewables.
By 2028, the IEA forecasts that renewables will account for 42% of global electricity generation, with wind and solar power making up 25%. Despite showing no growth across this period, hydropower is still expected to be the largest single source of renewable power.
Taken together, the agency says renewables will overtake coal power as the largest source of power in “early 2025”. (A year ago, the agency said renewables would become the world’s largest electricity source within three years.)
One major driver of this growth is the plummeting cost of renewables, especially solar photovoltaics (PV). Spot prices for solar modules declined by almost 50% in 2023 compared to the previous year, according to the IEA.
Last year, 96% of newly installed utility-scale solar and onshore wind capacity generated cheaper electricity than new coal and gas plants, according to the IEA.
Moreover, three-quarters of new wind and solar power plants provided cheaper power than even existing fossil-fuel facilities.
The other key driver is the strong policy support that renewables enjoy in “more than 130 countries”, the IEA says. It notes that “policies remain key for attracting investment and enabling deployment”, with roughly 87% of the utility-scale renewable growth between 2023 and 2028 “expected to be stimulated by policy schemes”.
At the same time, the report highlights the impact of the “new macroeconomic environment” on the renewables sector, with inflation and high interest rates raising costs. Offshore wind has been hardest hit, with the IEA’s forecast for its growth outside China dropping by 15%.
The report also examines renewable heat consumption and the use of biofuels. Both are set to grow considerably in the coming years, but the IEA says neither are currently on track for the trajectories seen in its net-zero scenario, which aligns with the Paris Agreement.
Record revision
As a result of this growth, the IEA has again significantly raised its forecast for renewables capacity expansion, by a record amount.
It now sees an additional 728GW being built in the 2023-2027 period compared to its forecast from 2022 – a 33% increase. This is notable considering that, last year, the agency described a five-year 424GW adjustment as its “largest ever upward revision”.
The chart below shows the 120GW divergence between actual renewables growth in 2023 – some 507GW – and the forecast for that year of 387GW, made by the IEA in 2022.
The IEA has a long history of making relatively conservative predictions for renewable growth that are subsequently outstripped by reality, due to a combination of more favourable policy conditions and faster-than-expected cost reductions.
Forecasts from previous IEA renewables reports issued in 2020 and 2021 showed annual renewable growth rates remaining fairly stable at around 200GW and 300GW per year for the following five years, respectively.
However, these forecasts have not been included in the chart above as, for the first time, the agency has converted all of its solar power values to direct current, resulting in slightly different GW values. This means previous forecasts are not directly comparable, although the 2022 forecast figures have been converted for this purpose.
China leads
A key conclusion from the IEA’s new report is the global dominance of China in deploying solar and other renewables, which is set to increase in the coming years.
In the period 2005-2010, China built 39% of the world’s new renewable energy capacity. This increased to 47% in the 2017-2022 period and the IEA expects it to rise to 59% between 2023 and 2028. This can be seen in the chart below.
By 2028, the agency estimates that nearly half of China’s electricity will be generated by renewables. According to Ember, as of 2022 only around 30% of China’s electricity was from renewables.
During this period, the nation is set to deploy four times more renewables than the EU and five times more than the US.
This growth is being driven by the nation’s success in solar power manufacture and installation, according to the IEA. In “almost all provinces”, generation costs for new utility-scale solar and onshore wind are now lower than for coal, which is generally used as the benchmark for electricity prices, the agency says.
The IEA attributes this progress to policy measures, including power market reforms, green certificate systems and province-level financial support to support rooftop solar installation. It also points to a “supply glut” that has helped solar module costs “plummet drastically”.
As China accounts for 90% of the upwards revision in the IEA’s forecast out to 2028, it notes that the nation’s solar achievements actually “hide slower progress in other countries”.
There have been a number of significant supportive policy changes in other countries and regions, however.
The US and the EU are expected to see renewable installation rates double across 2023-2028, compared to the previous six-year period – in both cases due primarily to solar expansion. The IEA attributes this to the US Inflation Reduction Act and supportive national policies – such as government renewable power auctions – across European nations.
The report also highlights the success of supportive policies in India and Brazil. It notes that while renewables are set to expand rapidly in sub-Saharan Africa – particularly South Africa – the region “still underperforms considering its resource potential and electrification needs”.
Tripling renewables
At COP28, nearly every government in the world agreed to a target of tripling global renewables capacity by 2030. This would bring the total to 11,000GW, which is in line with the IEA’s own net-zero scenario.
As it stands, the new report concludes that under the IEA’s “main case” forecast, shown in yellow in the chart below, renewable capacity would increase to 7,339GW in 2028.
Following that trajectory, capacity would reach around 9,000GW in 2030 – roughly an increase to 2.5 times current levels.
This forecast is based on existing policies and takes into account “country-specific challenges that hamper faster renewable energy expansion”, the IEA says.
By contrast, the IEA’s “accelerated case” involves governments “overcom[ing] these challenges and implement[ing] existing policies more quickly”.
In this scenario, shown in red below, renewables growth is around 21% higher. Capacity increases to 8,130GW in 2028, putting the world on track for the tripling by 2030 target.
The IEA lists a handful of broad measures that governments could take to achieve an “accelerated” trajectory.
These include: improved policy responses to the “new macroeconomic environment” such as higher inflation; more investment in grid infrastructure; and dealing with “cumbersome administrative barriers and permitting procedures and social acceptance issues”.
The IEA notes that “the lack of affordable financing remains the most important challenge to renewable project development in most EMDEs [emerging markets and developing economies], especially in countries where renewable policy uncertainties also increase project risk premiums”.
It emphasises the need to boost financing for EMDEs to overcome this barrier. Last year, renewable growth was concentrated in just 10 nations and tripling renewables requires “a much faster deployment rate…in numerous other nations”, the IEA says.
The post Analysis: World will add enough renewables in five years to power US and Canada appeared first on Carbon Brief.
Analysis: World will add enough renewables in five years to power US and Canada
Britain’s new prime minister announced in his first week that he will cut the cost of public transport and electricity, making lower-emission technologies like bus travel, electric vehicles and heat pumps more affordable for voters. But some of the funding for those policies will come from the budget for international climate finance, the government has said, raising concerns about fairness.
Former Manchester Mayor Andy Burnham took over from Keir Starmer as Labour Party leader and prime minister on Monday, appointing climate advocates Ed Miliband as foreign and development minister and Miatta Fahnbulleh as climate and energy minister.
On Tuesday, Burnham said his government would cut the value added tax (VAT) households and some small businesses pay on their electricity bills from 5% to zero from October 1, saving households £45 ($60) a year.
On Wednesday, he said the maximum fare bus companies in England can charge for a single journey will be reduced from £3 ($4) to £2 ($2.67) from January 1, 2027. The government said the subsidies to achieve this would be mostly funded by switching money set aside for overseas climate finance projects from grants to loans. It did not give further information in its announcement, while the UK’s transport minister told Sky News the plan is still being worked out.
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The floated changes to the climate finance budget were immediately criticised by groups working on climate justice for developing countries, including Bond, the UK network for NGOs, which described the decision as “disappointing”.
“Robbing Peter to pay Paul is not the answer and pitches marginalised communities in the UK against marginalised communities in lower-income and climate-vulnerable countries,” BOND CEO Romilly Greenhill said in a statement. “Climate finance must not worsen the debt burden of countries that are already suffering the worst – and most costly – impacts of a climate crisis they did not cause.”
Hunt for money
Burnham promoted both policies as measures to combat the rising cost of living and “give people breathing space”, with climate campaigners and industry groups noting they are also likely to reduce the UK’s climate-heating emissions by encouraging bus travel and the use of electric vehicles and heating.
But thorny questions remain over how the policies will be paid for. The government said Tuesday’s VAT cut for electricity would be funded by scrapping the previous government’s digital ID programme, but Darren Jones, a former minister involved with that policy, said it had been “unfunded” – a statement that dominated media coverage.
A day later, the government said the new bus fare cap would cost £454 million ($606m). Transport minister Heidi Alexander told Sky News that £54 million would be taken from an under-spend in the budget of the Department for Energy Security and Net Zero (DESNZ) and £400 million would come from changing unspecified international climate finance from grants to loans. The details “still need to be worked through”, she said, adding that the government “had wanted to make an announcement today”.
Mohamed Adow, director of Nairobi-based think-tank Power Shift Africa, said “climate finance was never meant to be a pot of money that governments raid when they need to pay for domestic spending”.
DESNZ had not responded to a request for comment at the time of publication. “We’re not wanting to fleece anyone here, and we actually want to maximise the development potential of this money that is available,” minister Alexander said in her TV interview.
Aside from the controversy over their funding, the policies themselves were widely welcomed by climate campaigners. Jess Ralston, energy lead at the Energy and Climate Intelligence Unit (ECIU), said the tax cut on electricity bills “could help households to switch to electric heat pumps, protecting UK homes from becoming ever more exposed to the whims of Putin and Trump when turning on their gas boiler”.
The last few months have seen global momentum build behind electrification, spurred by the US-Iran war disrupting oil and gas supplies and driving up prices. The Turkish and Australian COP31 presidencies have announced a global target to boost electrification, backed by the European Union, Canada, Philippines, UK and others.
Campaigners call for lower power prices
While reaction to the VAT cut was supportive, some questioned whether £45 a year of savings per household is enough and called for more measures to cut electricity bills.
Friends of the Earth’s energy lead Imogen Dow said those on the lowest incomes should be given cheaper electricity through a “social tariff” and the Institute for Public Policy Research (IPPR) think-tank – which is close to the Labour Party – said levies on energy bills should be shifted to general taxation.
Matthew Paterson, a politics professor at Manchester University, told Climate Home News that the most effective way to reduce electricity bills is to take on the UK’s private electricity companies, while consumer-oriented measures like the VAT cut are “tinkering around the edges”.
Jarrod Birch, head of policy and public affairs for the EV charging industry association Charge UK, said that while the policy would make home-charging cheaper, people who charge their vehicles at public points will still have to pay 20% VAT. The UK’s tax authority is fighting a court ruling that ordered it to reduce the tax motorists pay on public chargers to the current household rate of 5%.
Further measures will be the responsibility of Secretary of State for Energy Security and Net Zero Miatta Fahnbulleh, who is relatively new to politics after a career at left-wing, pro-climate think tanks the IPPR and the New Economics Foundation.
Michael Jacobs, political economy professor at Sheffield University and former adviser to UK Labour prime minister Gordon Brown, said Fahnbulleh would be a “climate advocate” who would continue the “progressive climate agenda” of her predecessor Ed Miliband.
“She’s a very creative policy wonk so I expect there to be lots of policy innovation under her,” he said, “I think she will be looking at new ways to encourage take-up of heat pumps and domestic batteries.”
Aid budget in Miliband’s hands
Despite reports he could be made finance minister, Miliband has been appointed Secretary of State for Foreign and Commonwealth Affairs. Miliband has attended many climate COP meetings over several decades, most recently representing the UK at COP29 and COP30, and has been targeted by the right-wing media for his support for climate action and opposition to new oil and gas drilling in the UK’s part of the North Sea.
In his new role, Miliband will be responsible for the UK’s overseas aid budget including its international climate finance, which the Starmer government had slashed to fund increases in defence spending.
UK cuts support for climate action abroad to fund military instead
Jacobs said he expected Miliband to prioritise climate and development in the UK’s foreign policy and to push Burnham and new finance minister John Healey to reverse Starmer’s aid cuts.
But there are fears Healey could try to cut the aid budget further to fund the military. Healey was a surprise pick for Chancellor of the Exchequer and grabbed headlines when he resigned as Starmer’s defence minister in June over what he saw as insufficient defence spending.
The post Will new UK PM’s green measures at home cause climate finance pain overseas? appeared first on Climate Home News.
Will new UK PM’s green measures at home cause climate finance pain overseas?
AMSTERDAM, Netherlands, 22 July 2026 – Greenpeace Netherlands has launched legal proceedings against a multi-billion-dollar global expansion plan by the biggest meat producer in Australia, JBS, in an escalation of climate litigation against the livestock industry.
Greenpeace petitioned a Dutch court to compel the meat giant to disclose information in order to challenge its business policies in court, including a US$6 billion global expansion, for which almost half is earmarked for Nigeria.
Elizabeth Atieno, Food Campaigner at Greenpeace Africa, said: “JBS’ meat empire expanded hand-in-glove with Amazon destruction, colossal emissions, human rights and corruption scandals, all with barely a semblance of transparency. This is the business model it wants to export to sub-Saharan Africa. JBS promises food security, but its expansion in Nigeria risks causing irreversible environmental damage and the displacement of smallholder farmers to line the pockets of wealthy global elites.
“Nigerians know well from the legacy of companies like Shell the destructive impact wrought by unchecked corporate power. As Greenpeace Africa has argued before the African Court of Human Rights, states with jurisdiction over multinationals must hold those corporate actors accountable – wherever they operate in the world. We welcome this bold legal action: the Netherlands and other European states must not be safe havens for corporations like JBS seeking to evade their responsibilities.”
In light of JBS’ longstanding failure to publish accurate and reliable information on its climate, nature and human rights impacts or its expansion plans, Greenpeace Netherlands views accessing this data as a necessary precursor to formal litigation in order to support its case. The case has the potential to be the first climate litigation of this scale against the livestock industry. This could set a major precedent for future legal challenges against the industrial agriculture sector, a major source of global emissions, particularly of methane, a potent greenhouse gas, responsible for 0.5°C of warming since the Industrial Revolution.[1]
JBS, via its subsidiary JBS Foods Australia, is the largest meat and food processing company in Australia. With a weekly processing capacity of over 50,000 cattle, it accounts for almost a quarter of all beef processing in the country, as well as a significant presence in the lamb, pork and farmed fish markets. [2] In 2022, ABC’s Four Corners accused the company of ‘repeatedly failing to protect its workers from horrific injuries.’ [3]
Marieke Vellekoop, Executive Director at Greenpeace Netherlands, said “In a month where JBS has thrown its flagship environmental commitments onto the scrap heap, JBS’ disdain for basic transparency only adds to the impression that this meat giant has something to hide and is desperate to prevent its expansion plans from going public. We were hoping we wouldn’t have to trouble a judge with this matter, but JBS has left us no choice but to seek our right to information through the Dutch courts.
“JBS appears to believe that despite moving to the Netherlands, our rules do not apply to it. This legal action aims to prove it wrong – and lay the ground for a first major climate and nature lawsuit against the dangerous expansion of the global meat industry.“
At the centre of the dispute is JBS’ planned US$ 2.5 billion investment in industrial livestock production in Nigeria.[2] Civil society groups in Nigeria have raised urgent warnings that the aggressive expansion will threaten local food security, drive regional instability, and accelerate ecological degradation. There is no available evidence that JBS has conducted any impact assessments or community consultations in Nigeria, and local efforts to gather more information via Freedom of Information requests have reportedly been ignored.[3]
The escalation to the courts follows the refusal of JBS, the world’s largest meat company, to comply with a formal disclosure demand delivered by Greenpeace Netherlands in April. The environmental group is utilising new Dutch legislation, which grants parties with a legitimate interest the right to demand access to specific corporate data necessary to build litigation against Dutch companies.[4]
Greenpeace Netherlands’ lawyers allege that JBS’ historic business practices and future expansion plans are inconsistent with the company’s climate and biodiversity obligations and represent a breach of its Dutch duty of care, which requires companies to act in line with international human rights law.[5]
If the court rules in favor of Greenpeace Netherlands, it is entitled to seek the required information in the form of documents and from senior JBS figures under oath, raising the prospect of the Batista brothers being forced to testify in Dutch court. JBS reincorporated as a Dutch entity (JBS N.V.) last year to facilitate a dual listing on the New York Stock Exchange.
In April, JBS was forced to temporarily suspend its first annual general meeting since moving its headquarters to Amsterdam after it was disrupted by dozens of Greenpeace Netherlands activists.
Last week, JBS scrapped two flagship commitments to reach Net Zero emissions by 2040 and eradicate deforestation from its supply chain. It also removed any explicit reference to Indigenous lands from all of its current policies. Greenpeace Netherlands is concerned this indicates JBS is seeking to expand unconstrained by the climate, nature and human rights impacts of its business.
–ENDS–
Notes:
[1] The livestock sector is estimated to be responsible for 31% of global methane emissions (more than oil and gas operations). In comparison to CO2, methane is shorter lived (around 12 years) but has a much stronger ability to trap heat in the atmosphere over its lifetime: it has approximately 80 times more climate impact than CO2 when measured over 20 years. This means that changes in methane emissions have a more rapid effect on the climate than changes in CO2. See Greenpeace Netherlands letter to JBS dated 30 April 2026.
[2] JBS Foods Australia, Our Business
[3] ABC, Australia’s biggest meat company JBS is repeatedly failing to protect its workers from horrific injuries, 25 April 2022
[4] JBS announcement
[5] Experts raise concerns over the risks of industrial animal farming (The Sun Nigeria)
[6] Simplification and modernisation of Dutch evidence law (Fieldfisher)
[7] Greenpeace Netherlands petition to Dutch court available here. Media briefing with further details on JBS expansion plans, including in Nigeria, available here.
Greenpeace launches legal challenge against Australia’s biggest meat company
Climate Change
“Next year is too late for regulations”: Beetaloo Energy’s 2GW gas-powered AI data centre a “disaster proposal” destined to cause climate chaos
SYDNEY, Wednesday 22 July 2026 — Beetaloo Energy has secured land from the NT Government for a massive $40 billion “hyperscale” AI data centre near Darwin, which would be powered by 2 gigawatts (GW) of gas power fracked directly from the Beetaloo basin, prompting calls from Greenpeace for urgent federal legislation.
The proposal marks a dangerous escalation in the AI data centre industry’s expansion, which threatens to entrench fossil fuel infrastructure for decades and put immense pressure on the region’s fragile water resources — while continuing to be unregulated.
Joe Rafalowicz, Head of Climate and Energy at Greenpeace Australia Pacific, said: “This disaster proposal for a 2GW gas-powered AI data centre in the NT is a shocking example of the unchecked expansion of hyperscale data centres in Australia. It is also, critically, more evidence for the urgent need for a moratorium on all new data centres until strong, binding regulations are put in place to protect our communities and climate.
“This proposal mirrors the frenzied, unchecked expansion currently wreaking havoc on communities in the US. We are seeing cowboy data centre operators treat Australia like a playground, steam-rolling ahead with projects that would lock down precious water resources and spike emissions, despite the overwhelming community opposition.
“Every day, more councils, communities and environmental groups are joining Greenpeace’s call for a moratorium on data centres, yet as of today there is still no system of safeguards or rules in place to regulate these companies.
“While Beetaloo Energy and the NT Government prepare to bulldoze ahead with this climate and water disaster, the Prime Minister is asleep at the wheel, promising to legislate a vague set of standards next year.
“Next year is too late, and anything less than mandating data centres cover their own energy demand, and then some, with new renewable energy is not enough.”
-ENDS-
Media contact
Lucy Keller on 0491 135 308 or lucy.keller@greenpeace.org
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