GWEC - Global Wind Report 2023

The world's commitment to renewable energy remains strong as efforts to meet Paris Agreement targets continue. The International Energy Agency (IEA) forecasts that renewable energy capacity must triple to reach the goal of 61% of electricity generation coming from renewables by 2030. Wind and solar PV are predicted to make up most of this growth. However, supply chains in the renewable energy industry are threatened by inflation, rising interest rates, geopolitical events, and bottlenecks. Meanwhile, investments in wind energy decreased in Europe, the Americas, the Middle East, and Africa in 2022, with the Asia-Pacific region as the only exception. This contradicts the urgent need for renewable energy as the world approaches climate deadlines. Governments must realize that climate change mitigation and sustainable energy security are interconnected and support policies that encourage the growth of the renewables industry. Decarbonization is a huge challenge that cannot be addressed by a single country or region alone. Only by working together can we achieve a clean energy transition. The Global Wind Energy Council (GWEC) and its members play an important role in supporting policies, collaboration, and action.