On the 11th January 2024, The International Energy Agency (IEA) published its 2023 Renewables report comprising of global forecasts till 2028. With COP28 Dubai’s conference agreement to triple the current volume of renewable energy generated, the report provides some interesting perspectives and trends on a global level. Furthermore it also provides trends for clean energy companies including providers of solar and wind energy technologies. 

For the European continent, the IEA predicts additional RE generated at double the pace set in the preceding six years. Over 70% of the expansion is expected to come from solar panels, with wind at solely 26%. The rest is a mix of hydropower and other technologies. The forecast for the production of hydrogen looks less promising with the IEA slashing its forecast for hydrogen production by 51%.

Will the world manage to limit the world’s global warming to 1.5°C during this decade? 

More through: https://www.iea.org/reports/renewables-2023

Should you require further information in relation to these new changes, please contact Miriam Sultana on miriam.sultana@pkfmalta.com.

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