In 2022, the International Renewable Energy Agency (IREA) reported a significant increase in renewable energy capacity, reaching 295 GW. This marks a 10 percent growth compared to 2021, with China, the European Union, and the United States leading in capacity expansion, accounting for one-third of the total increase. Unfortunately, many less developed and developing countries have struggled to keep pace with the adoption of renewable energy due to a lack of sufficient investment and supportive infrastructure.
Investments in renewable energy technologies reached $1.3 trillion in 2022, yet the benefits have not been evenly distributed. A substantial 85 percent of the renewable energy generated is consumed by less than half of the global population. While solar and wind power projects have flourished in China, the European Union, and the United States, regions such as Asia, South America, and Africa continue to lag behind, creating disparities that demand attention. IREA’s La Camera emphasizes the need for a transformation in this existing situation, stressing the necessity of increased investment to develop the energy sector and address these imbalances