This report aims to provide a timely, concise and up-to-date overview of clean energy deployment for 2023 for a selected group of technologies. This brings together the most recent trends for selected key clean energy technologies and assesses the implications for energy markets more broadly. It also analyses the energy market impacts of clean energy deployment trends since 2019.
Highlights of the report are:
- Global clean energy deployment scaled new heights in 2023, with annual additions of solar PV and wind growing 85% and 60% respectively. Capacity additions for these two technologies reached almost 540 GW, with China accounting for the majority of both.
- Electric car sales grew around 35% in 2023, reaching 14 million vehicles or one-in-five sales globally.
- By contrast, heat pump sales globally saw a marginal decline from the record levels of 2022, as squeezed consumers avoided spending on big ticket items and concerns around high gas prices eased somewhat.
- Nuclear capacity additions fell to 5.5 GW in 2023, although year-on-year variations in capacity additions are less meaningful for a technology with long project development and execution times.
- Hydrogen electrolyser capacity additions grew by 360% in 2023, but from a very low base.
- The coal demand avoided is around 580 million tonnes of coal equivalent (Mtce) annually.
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