New global renewable energy deployments are set to increase by more than 440 GW by the end of 2023, the largest increase to date. To put that into perspective, a power plant with a capacity of 1 GW could power approximately 876,000 households. So, this increase is expected to provide the renewable energy equivalent of a plant powering roughly 385 million homes.
The renewable energy sector will also celebrate another milestone this year, reaching 1 TW of installed wind energy capacity worldwide. It took more than 40 years to reach this milestone, but experts predict the industry will hit 2 TW by 2030. With new areas like New York City transforming fossil-fuel plants into wind energy hubs, the future is promising for this renewable energy source.
