Renewable generation: global capacity increased by 9.6% in 2022

Global renewable generation reinforces its decisive role in the midst of the energy crisis and already accounts for 83% of new electricity generation projects

The year 2022, marked by the severe energy crisis caused by – among other reasons – the war in Ukraine and the subsequent rise in energy commodity prices, ended with a robust increase in global renewable generation capacity, which reached 3,372 installed gigawatts. This is evident from the report published by the International Renewable Energy Agency (IRENA), which estimates the increase in green energy generation capacity at 295 GW (+9.6%) worldwide; a figure that also corresponds to 83% of the total renewable energy capacity added last year.

World renewable generation 2021-2031

This only shows that renewables are taking over the majority of investment projects in energy generation, banishing fossil fuels or other sources of polluting generation from the equation.

If we stop to observe how this increase is distributed, the country that added the most renewable energy to its energy mix was China, with 144 GW, thus leading the Asian market, responsible for almost half of the increase recorded last year. Meanwhile, Europe and North America added 57.3 GW and 29.1 GW respectively; while Africa expanded its renewable generation by 2.7 GW, South America by 18.2 GW and, finally, the Middle East by 3.2 GW.

With regard to Spain, it increased its renewable generation capacity, going from a record 62 GW installed in 2021 to 67.9 GW at the end of 2022. An increasing trend that began in 2018 following the legal changes made in terms of renewable generation and the corresponding good reception by the market. Thus, the European country has increased its renewable energy park by 20 GW in the last decade, going from 46.9 GW in 2013 to 67.9 GW in 2022; becoming, after Germany (148 GW), the second largest European renewable energy market, above France (65 GW) and Italy (59 GW) – its closest pursuers in this classification. During this same historical period, the 27 countries of the European Union have added nearly 230 GW, climbing from 337 GW in 2013 to the current 569 GW.

Regarding the most installed renewable technologies, photovoltaic solar energy stands out as the preferred option for the market thanks to an increase of 191 GW in 2022. In second place is wind energy, which with a 9% increase and 75 GW continues to see a deceleration trend; And in third place is renewable hydropower, which increased its share by 2% thanks to an additional 21 GW added during the year, following a consistent trend. Finally, and away from the major renewable technologies, the report cites bioenergy, which increased from 7.6 GW in 2021 to 8.1 GW in 2022, and geothermal energy, which was able to increase its renewable generation capacity by 181 MW.