Renewable power on course to shatter more records as countries around the world speed up deployment
With the global energy crisis as a catalyst, solar PV and wind are set to lead the largest annual increase in new renewable capacity ever, new IEA report shows.
Newly installed solar PV and wind capacity is estimated to have saved EU electricity consumers EUR 100 billion during 2021-2023 by displacing more expensive fossil fuel generation. Wholesale electricity prices in Europe would have been 8% higher in 2022 without the additional renewable capacity, according to the new IEA report.
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