New wind and solar power projects in China, Europe and the US achieved a 45 percent rise in rate of new capacity last year.
The world’s ability to generate renewable energy grew at its fastest rate since 1999 last year, despite the disruption caused by the pandemic, and may have established a new standard for continued growth, says the International Energy Agency (IEA).
The global energy watchdog announced that the delivery of renewable energy projects, including windfarms and solar power projects, grew by 45 percent last year in a step change for the global industry.
Heymi Bahar, lead author of the IEA report, described last year’s renewables boom as “unprecedented” because although it matched the rate last seen in 1999 the industry has become far larger in the last two decades.
Wind power capacity doubled over the last year, while solar power grew by almost 50 percent more than its growth before the pandemic, courtesy of the growing appetite for investing in clean energy from governments and corporations.
In further good news, the clean energy boom has prompted the IEA to revise its forecasts for the coming years up by about 25 percent from its previous growth estimates due to the faster than expected expansion of renewables in China, Europe and the US.