By the end of 2022, global renewable generation capacity amounted to 3372 Gigawatt (GW), growing the stock of renewable power by a record of 295 GW or by 9.6 per cent. An impressive 83 per cent of all power capacity added last year was produced by renewables. Renewable Capacity Statistics 2023, released by the International Renewable Energy Agency (IRENA) shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fueled power generation.