HASnecdotics in the early 2000s, renewable energies are finally making history. A little annoyed that certain politicians have not understood this major transformation of the world, the boss of Engie, Catherine MacGregor, recalls an undeniable reality: in 2023, half of the electricity produced in Germany came from renewable energies. This is the case for more than 60% of electricity in Portugal and more than 40% in the United Kingdom. The whole world is massively converting to wind power and especially solar power.
The latest report from the International Energy Agency (IEA), published this Thursday, January 11, describes this tremendous acceleration. Renewable capacities increased by 50% in 2023 alone to 510 gigawatts (GW). Three-quarters of this increase comes from solar. At this rate, within a year the production of electricity from renewable sources will exceed that produced by coal. Capacity is expected to double in Europe, the United States, Brazil and India in the next five years.
Public policies play an essential role. The last conference of States, COP28, set, in November 2023, a goal of tripling global capacities by 2030. But the explanation is also economic. The price of solar panels fell by 50% in 2023 compared to 2022, according to the IEA. Onshore wind and solar PV are today cheaper than new fossil fuel plants in most countries. And very often, cheaper than existing power plants.
Dependence on the rest of the world
But there are two elephants in the room. The first is China. This country is by far the one that installs the most renewables on its territory. But he is also the supplier of the world. It controls 80% of the photovoltaic sector. It is thanks to him and his giant factories that prices are collapsing. The dependence on the rest of the world is total. It has become essential to achieving the 2030 objectives. Closing its borders to China means renouncing its climate ambitions.
The other elephant is the commitment of the Global South, from Africa to Asia, in this transition. No chance of completing the objectives without them. They will have to be financed at a time when stock markets are tightening and borders are closing. This subject, too, is not anecdotal.