Ten questions about "overcapacity" issue (2)

2. Is there an "overcapacity" problem in global green production capacity?

Currently, there is no overcapacity issue in green production capacity worldwide, but a severe shortage.

Renewable power capacity additions will continue to increase in the next five years, according to a report released by the International Energy Agency (IEA). The report indicates that the amount of renewable energy capacity added to energy systems around the world grew by 50 percent in 2023, reaching almost 510 gigawatts (GW). The agency forecasts that renewable energy capacity will grow to 7,300 gigawatts from 2023 to 2028.

The IEA projects that by 2030, the global demand for new energy vehicles will reach 45 million, more than four times that of 2022.

Source: The International Energy Agency (IEA)