POST Online Media Lite Edition



 

Renewable electricity growth accelerating faster than ever worldwide

Christian Fernsby |
The growth of the world’s capacity to generate renewable electricity is on course to accelerate over the coming years, with 2021 expected to set a fresh record for new installations, the IEA says in a new report.

Article continues below




The growth of renewables is forecast to increase in all regions compared with the 2015 to 2020 period.

China remains the global leader in the volume of capacity additions: it is expected to reach 1200 GW of total wind and solar capacity in 2026 four years earlier than its current target of 2030. India is set to come top in terms of the rate of growth, doubling new installations compared with 2015-2020.

Deployments in Europe and the United States are also on track to speed up significantly from the previous five years. These four markets together account for 80% of renewable capacity expansion worldwide.

Solar PV remains the powerhouse of growth in renewable electricity, with its capacity additions forecast to increase by 17% in 2021 to a new record of almost 160 GW. Total offshore wind capacity is forecast to more than triple by 2026.

Demand for biofuels is set to grow strongly to 2026, with Asia accounting for almost 30% of new production. India is expected to rise to become the third largest market for ethanol worldwide, behind the United States and Brazil.


What to read next

Iran and Middle East could adopt 100% renewable electricity systems
Renewable energy employs 8.1 million people worldwide
Turkey aims to boost clean energy deployment