December 1, 2021 Read More →

New renewables installations expected to hit all-time high in 2021

This year is expected to set an all-time record for new renewable energy installations, according to an IEA report. 

Despite rising costs for key materials used to make solar panels and wind turbines, additions of new renewable power capacity this year are forecast to rise to 290GW in 2021.

IEA’s annual Renewables Market Report also finds that solar, wind and other technologies are on course to accelerate over coming years.   

By 2026, global renewable electricity capacity is forecast to rise more than 60% from 2020 levels to over 4800GW – equivalent to the current total global power capacity of fossil fuels and nuclear combined.

Renewables are set to account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half.

The amount of renewable capacity added over the period of 2021 to 2026 is expected to be 50% higher than from 2015 to 2020.

[Staff Report]

More: IEA forecasts record year for renewables

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