Renewable energy surges, driven by solar boom and high fuel prices, report finds

By FRANK JORDANS
Associated Press

BERLIN (AP) — The world is set to add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and take advantage of a boom in solar power. The International Energy Agency said Thursday that high fossil fuel prices and concerns about energy security had boosted the rollout of solar and wind power installations, which are expected to reach 440 gigawatts in 2023. That’s about a third more than the world added the previous year, taking the global installed capacity to 4,500 GW, roughly the combined total power output of the United States and China. Shifting the global economy away from fossil fuels is one of the most important steps for reducing greenhouse gas emissions underlying global warming.