In 2020, global renewable energy will grow at the fastest rate in 20 years

According to Reuters news on May 11, a report from the International Energy Agency (IEA) on Tuesday showed that last year renewable energy grew at the fastest rate in two decades, led by China, and will continue to grow in the next two years.

Although the impact of the 2019 new crown virus has caused supply chain disruption and construction delays, the new installed capacity of renewable energy in 2020 will increase by 45% to 280 million watts, the largest year-on-year increase since 1999.

IEA said in a renewable energy market outlook report that globally, it is expected to add about 270 million kilowatts of new capacity this year, and nearly 280 million kilowatts in 2022.

As governments auctioned record-breaking renewable energy and companies signed record-breaking power purchase agreements, these forecasts increased by more than 25% from the agency’s previous forecast in November.

Governments last year auctioned 75 GW of offshore and onshore wind power, solar photovoltaic and bio-energy production capacity, an increase of 20% over 2019.

EIA Director-General Fatih Birol (Fatih Birol) said: "As wind and solar continue to break record after record, they give us more reasons to believe that our climate goals will remain optimistic.

He added: "Last year, the growth of renewable energy generation capacity accounted for 90% of the expansion of the global power industry.

However, the government needs to formulate policies to encourage more investment in solar and wind energy and the additional grid infrastructure they require, as well as other renewable technologies such as bioenergy and geothermal.

　　Yin Lu compiled from Reuters

　　The original text is as follows:

　　Global renewable energy grew at fastest pace in two decades in 2020

　　Renewable energy grew at its fastest pace in two decades last year, led by China, and will continue to grow in the next two years, a report by the International Energy Agency (IEA) showed on Tuesday.

　　New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) last year, the largest year-on-year increase since 1999, even though there were supply chain disruptions and construction delays due to the impact of COVID-19.

　　Globally, around 270 GW of new capacity is forecast to be added this year and nearly 280 GW in 2022, the IEA said in a renewable energy market outlook.

　　These forecasts have been increased by more than 25% from the agency's previous forecasts in November as governments have auctioned record amounts of renewable energy and companies have signed a record number of power purchase agreements.

　　Governments auctioned 75 GW of offshore and onshore wind, solar photovoltaic and bioenergy capacity last year, up 20% from 2019.

　　"Wind and solar power are giving us more reasons to be optimistic about our climate goals as they break record after record," said IEA executive director Fatih Birol.

　　"Last year the increase in renewable capacity accounted for 90% of the entire global power sector's expansion," he added.

　　However, governments need to set policies to encourage more investment in solar and wind and the additional grid infrastructure they will require, as well as other renewable technologies such as bioenergy and geothermal, Birol added.