Sources of Renewable Power Capacity and Its Growth

At the end of 2023, global renewable capacity amounted to 3,870 GW. Solar accounted for the largest share of the global total, with a capacity of 1,419 GW, or 37% of the total global renewable energy capacity. Renewable hydropower and wind energy accounted for most of the remainder, with total capacities of 1,268 GW and 1,017 GW respectively. 

Other renewables capacities included 150 GW of bioenergy and 15 GW of geothermal, plus 0.5 GW of marine energy. Marine energy converts the energy of waves, tides and ocean currents into electricity. Asia and the Middle East are the fastest growing regions for adding renewable power capacity, growing by 20.1% and 16.6% respectively. By the end of 2023, Asia was home to 50.7% of the world’s renewable energy capacity, followed by Europe with 20.3%.