LAUNCH OF THE RENEWABLESGLOBAL STATUS REPORT2023 COLLECTION(GSR)RENEWABLES IN ENERGY SUPPLYWe build upon adecentralised intelligence,ensuring high responsiveness to an ever-changing environment.Our annual publications are probably the worlds most comprehensive,crowdsourced reports on renewables.The only global community of renewable energy actors from science,academia,NGOs,governments,and industry.Our more than 4,000 community membersco-operate collecting information,changing norms and debating.DRIVING THE SHIFT TO RENEWABLES NOW!3Position knowledge strategically,build on the REN21 community and their roles,engage with usual and unusual suspects to change norms.OUR APPROACH TO DRIVE CHANGEREN21 and its multi-stakeholder approach4Renewables in Energy Supply(Heat,Fuel and Electricity)PolicyInvestmentMarket and Industry TrendsUpcoming Modules:Energy Systems and Infrastructure for RenewablesEconomic and Social Value Creation with Renewables Global OverviewTHE ANNUAL GSR COLLECTIONR E P O RT I N G ABOUT T H E B U I L D I N G B LO C KS OF T H E R E N E WA B L E S SYST E M S5Record growth in installed capacity of Renewable Power Additions:348 GW in 2022Wind Power slows amid supply chain disruption and increase material costEconomicdevelopmentDeployment uneven across energy carrier,technology and regionsSolar PV leads all technologies:1 TW milestone reached of total installed capacityRecord growth in Investment in Renewable Power:more than USD 500 billion in 2022Energy prices andsecurity of energy supply among key drivers in 2022700 million people lack access to electricityRENEWABLES IN ENERGY SUPPLYK E Y D R I V E RS A N D T R E N D S15.06.236ARE RENEWABLES FUELING ALL OF THE WORLD S ENERGY NEEDS?Largest focus is on the power sector,but renewable heat and renewables-based fuelsseriously lag behindENERGY,MORE THAN ELECTRICITYR E N E W A B L E S U P T A K E U N E V E N A C R O S S E N E R G Y C A R R I E R S15.06.238Targets,policies and regulations,strategic planning are key for technology innovation,market development and bringing down costFROM A POWER TRANSITION TO AN ENERGY TRANSITIONR E P R O D U C I N G T H E S U C C E S S S T O R Y O F P O W E R15.06.239Record growth in Solar PV,investment contracting in all other renewable energy technologies.RENEWABLES INVESTMENT UNEVEN ACROSS TECHNOLOGIESR E A L N E E D F O R G R O W T H I N R E N E W A B L E H E A T A N D F U E L15.06.2310China accounted for 55%of global investment in 2022.The US and EU at 11%and 10%respectively.The Middle East&Africa accounted for 1.6%of global investment in 2022.RENEWABLES INVESTMENT UNEVEN ACROSS GEOGRAPHIESR E A L N E E D T O D I V E R S I F Y I N V E S T M E N T15.06.2311POWER SECTOR LEADING RENEWABLES UPTAKEUNEVEN UPTAKE ACROSS TECHNOLOGIES AND GEOGRAPHIESRenewable energy represented 29.9%of the global electricity mix in 2022,with solar and wind power providing more than 12%of the worlds electricity for the first time ever.RENEWABLE ELECTRICITY IS LEADING THE SHIFT IN ENERGY SUPPLYS O L A R A N D W I N D D O M I N A T E N E W P O W E R D E P L O Y M E N TTotal installed capacity:3481 GWNeeded increase inannual capacitySolar PV:x2Wind:x3.7Hydropower:x2.3Other technologies:x9.7RECORD INCREASE IN RENEWABLE POWER CAPACITYA N N U A L A D D I T I O N S S T I L L N E E D T O R A M P U P T O M E E T C L I M A T E S C E N A R I O S15.06.2314According to climate scenarios,annual investment must at least double from now until 2030.RECORD INCREASE IN RENEWABLE POWER CAPACITYA N N U A L I N V E S T M E N T S S T I L L N E E D I N C R E A S E T O M E E T C L I M A T E S C E N A R I O S15.06.2315In total,more than250 technology-specific power capacity targetswere in place in 126 national and sub-national jurisdictions by years end.POWER TARGETS CONTINUE TO INCREASEH I G H E R A T T E N T I O N T O W I N D A N D O F F-S H O R E W I N D15.06.2316By the end of 2022,83 countries had inplace feed-in tariffs or a premium payment policy,92 countries had a net-meteting policy and 56 countries had both.FEED IN TARIFFS AND NET-METERINGM O R E T H A N 2 0 C O U N T R I E S R E M O V E D F E E D-I N T A R I F F S I N R E C E N T Y E A R S15.06.2317In 2022,Oceania had the highest y-y growth with 13%,followed by Asia and Africa with 11%y-y growth each.U N E V E N A C R O S S G E O G R A P H I E S,B U T E M E R G I N G E C O N O M I E S S H O W I N GRENEWABLE ELECTRICITY GENERATIONP R O G R E SS15.06.2318More than 1 TW of renewables powerwaiting to be constructed or connected to the gridDelays linked to permitting processes andlocal acceptance delayGlobal investment in elecrticity gridinfrastructure totalled estimated USD 274 billion in 2022,an 8%increase from 2021.KEY CHALLENGES FOR RENEWABLES POWER UPTAKE15.06.2319LEADING TECHNOLOGIES IN RENEWABLE POWERRenewable power capacity additions grew by 13%(348 GW)in 2022,largely led by solar PV and wind power with 92%of total.Total Installed Capacity reached 3,481 GW in 2022.RECORD INCREASE IN RENEWABLE POWER CAPACITYD