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Renewable energy has 'another record year of growth', says IEA
About 290GW of new renewable energy generation capacity, mostly in the form of wind turbines and solar panels, has been installed around the world this year, beating the previous record last year. On current trends, renewable energy generating capacity will exceed that of fossil fuels and nuclear energy combined by 2026.... However, this level of growth is still only about half that required to meet net zero carbon emissions by mid-century.
IEA | Renewables 2021, exec summary, illustrated
We forecast that China will reach this target four years early thaFatih Birol, executive director of the IEA, said: "This year's record renewable energy additions are yet another sign that a new global energy economy is emerging. The high commodity and energy prices we are seeing today pose new challenges for the renewable industry, but elevated fossil fuel prices also make renewables even more competitive."

According to the IEA report, published on Wednesday (1 December), renewables will account for about 95% of the increase in global power-generation capacity from now to the end of 2026, with solar power alone providing about half of the increase.nks to the availability of long-term contracts, improved grid integration, and the cost competitiveness of onshore wind and solar PV compared with coal generation in many provinces. The trajectory of renewable capacity growth over the 2021-26 period indicates that renewable power growth in the European Union as a whole is set to outpace what the current National Energy and Climate Plans (NECPs) envision for 2030. This trend supports the ambition of reaching the stronger targets being finalised under the "Fit for 55" programme. Rapid deployment is being driven by member countries implementing larger auction volumes, corporations contracting for more renewable electricity, and consumers continuing to install large amounts of solar panels.

IEA Analysis / Browse all reports

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by Cat on Thu Dec 2nd, 2021 at 12:12:42 AM EST
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