Online Reporter
Sifelani Tsiko
Innovations Editor
Climate-informed decisions are now more important for global investment in low-carbon energy transitions that guarantee reliable energy and future planning for electricity demand, a new global report shows.
The 2023 Year in Review: Climate-driven Global Renewable Energy Potential Resources and Energy Demand Report says climate-informed and diversified energy solutions are essential if the world is to meet targets to triple renewable energy capacity and double energy efficiency by 2030.
The report was jointly produced by the World Meteorological Organization (WMO), the International Renewable Energy Agency (IRENA) and the Copernicus Climate Change Service (C3S), operated by the European Centre for Medium-Range Weather Forecasts (ECMWF).
“Whether it is solar power generation in drier-than-average conditions, wind power generation in regions experiencing shifts from La Niña to El Niño conditions, or hydropower generation in the face of fluctuating precipitation patterns, climate has a direct bearing on both electricity supply and demand,” the three weather agencies said in a joint statement.
“Such challenges also present unprecedented opportunities. The integration of climate insights into energy planning yields more reliable power generation, helps anticipate seasonal peaks in demand and strengthens the adaptability of future infrastructure development.”
Countries around the world are investing in cleaner sources of power to meet targets under the Paris Agreement.The report looks at 2023 – a year which saw a transition from a La Niña to an El Niño phenomena, affecting key climatic variables for the energy sector, including wind speed, solar radiation, precipitation and temperature.
In addition, the report illustrates the potential applications of seasonal forecasts as a valuable tool for energy planning and management.
Seasonal climate forecasts empower stakeholders to anticipate supply-demand fluctuations, optimise grid operations and enhance energy system resilience.
They also enable better preparation for extreme weather events, ensuring energy security and minimising disruptions.
Globally, wind power installed capacity surpassed 1 000 GW in 2023, a 13 percent increase from the 2022 figures.
Solar power has been growing considerably faster than wind power, with the installed capacity reaching 1 420 GW in 2023, a 32 percent increase from 2022.
Hydropower has grown slightly, with an installed capacity of about 1 410 GW in 2023, a 1 percent increase from 2022.
Developing countries face a proportionally heavier financial burden in the shift to a sustainable economy as many are heavily engaged in energy-intensive industries and more reliant on coal for power generation.
