Carbon-free energy is expanding at a record clip, according to the International Energy Agency, with solar power driving the growth and China outpacing every other country. “This year, the world is set to add a record-breaking amount of renewables to electricity systems — more than the total power capacity of Germany and Spain combined,” IEA Executive Director Fatih Birol said in the rollout of an annual report on renewable energy. The Paris-based organization expects renewable energy capacity to jump by one-third in 2023. Solar power will account for two-thirds of that added clean energy capacity, and more onshore wind farms are plugging into electric grids after a few down years. The rising cost of burning fossil fuels and an increase in policy support in the United States, Europe and China are clearing the runways for renewable projects, according to IEA. On top of that, the world has changed. Russia’s invasion of Ukraine pushed the European Union to shift some of its energy reliance on Russia to domestic sources of renewable power. Then there’s China, which dominates the global supply chains for electric car batteries and solar panels. It also installs a lot of energy capacity in its own country. By the end of 2024, according to IEA, the majority of wind and solar projects will be in China. Grid problems: Yet for almost every country, IEA says, integrating all of that distributed wind and solar power onto aging electric grids is the tricky part. IEA’s Birol said upgrading and expanding electric grids is needed “to ensure we can take full advantage of solar and wind’s huge potential.” The United States is all too familiar with the issue. As Congress and the White House punched their way toward an agreement to raise the national debt ceiling, leaders set aside a proposal to change the way electric transmission is sited and permitted. The Department of Energy and the Federal Energy Regulatory Commission are looking at ways to cut through a complicated state-led process of building out the power grid. FERC is preparing to release a final rule aimed at connecting more renewable energy to the grid. What’s happening stateside: This year’s expansions in U.S. solar and onshore wind projects come after a tougher 2022. Both markets could see as much as 40 percent growth by the end of the year — as the U.S. economy rebounds from post-Covid supply chain and trade issues. It could be the tip of the iceberg for the U.S., according to the IEA report. The full impact of the $369 billion federal investment laid out in the landmark 2022 climate law won’t be felt until around 2025.
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