‘Renewable power growing at fastest rate in 20 years’

Renewable power, such as wind and solar, grew at their fastest rate in two decades last year and are set to expand in the coming years at an even faster pace, according to a new report by the International Energy Agency.

The IEA says the amount of renewable electricity capacity added in 2020 rose by 45% in 2020 to 280 gigawatts, the largest year-on-year increase since 1999.

The report also forecasts that renewables growth in Europe and the United States will be faster than previously thought.

It predicts that 270 gigawatts of renewable capacity is on course to be added globally in 2021 and then almost another 280 gigawatts in 2022.

These findings are reported in the IEA’s Renewable Energy Market Update 2021.

The IEA is an intergovernmental organisation with 30 member countries, including the UK, and acts as an advisor on energy policy, as well as an independent source of research and information on global energy markets.

“Wind and solar power are giving us more reasons to be optimistic about our climate goals as they break record after record. Last year, the increase in renewable capacity accounted for 90% of the entire global power sector’s expansion,” said Fatih Birol, the IEA executive director.

“A massive expansion of clean electricity is essential to giving the world a chance of achieving its net zero goals.”