Updated: Dec 9, 2020
A recent report published by the International Energy Agency states that Renewables will account for almost 90% of the increase in total power capacity worldwide in 2020 and will accelerate in 2021 to their fastest growth in the last six years despite the Covid-19 Crisis that affected many other energy sectors like oil, coal, and gas.
As China and the United States of America add new renewable power to the world, it is projected that an increase of almost 200 gigawatts capacity will result globally this year, which is a growth of nearly 4%. More growth is yet to come by India and the European Union as they will be the main drivers for a 10% increase in global renewable capacity next year, which by far is the fastest growth achieved since the year 2015.
There will be an impressive change in the year 2025, as in this year the renewables (Solar, Wind, and Hydropower) are expected to supply one-third of the world electric needs and that the total world power capacity will be twice the size of china’s total power capacity today.