Global Renewable Energy Capacity Soars 50 Percent in 2020

SourceAl Bawaba
SectorOil & Gas
CountryGulf

Global renewable energy capacity additions in 2020 beat earlier estimates and all previous records despite the economic slowdown that resulted from the Covid-19 pandemic, reported Emirates news agency WAM. The world added more than 260 gigawatts (GW) of renewable energy capacity last year, exceeding expansion in 2019 by close to 50 per cent, according to data released today by the International Renewable Energy Agency (Irena). Global renewable energy capacity additions in 2020 beat earlier estimates and all previous records despite the economic slowdown that resulted from the Covid-19 pandemic, reported Emirates news agency WAM. Irena's annual Renewable Capacity Statistics 2021 shows that renewable energy's share of all new generating capacity rose considerably for the second year in a row.

More than 80 per cent of all new electricity capacity added last year was renewable, with solar and wind accounting for 91 per cent of new renewables. Renewables' rising share of the total is partly attributable to net decommissioning of fossil fuel power generation in Europe, North America and for the first time across Eurasia (Armenia, Azerbaijan, Georgia, Russian Federation and Turkey). Total fossil fuel additions fell to 60 GW in 2020 from 64 GW the previous year highlighting a continued ...read more...