Renewables Set To Soar In 2021

Renewables Set To Soar In 2021

With renewable energy companies outperforming fossil fuel majors in 2020, experts predicting a return to increased funding and eight out of ten of the world's largest economies committing to net zero by 2050, we may have reached the tipping point for energy transition.

While many expected to see the economic impact of the pandemic have an equally dramatic impact on emissions, the IEA has projected an overall fall in emissions of only 7% over 2020. That figure needs to be repeated annually if we are to change the current trajectory which, according to the latest UN Emissions Gap report, still sees the world on track for a three degree rise by the end of the century.

Eight out of ten of the world's largest economies have committed to net zero by 205, with Biden and the US set to follow suit. According to analysis from Ember, on Europe in the first half of 2020, renewable energy generated more electricity than fossil fuels. Only five years ago Europe generated double the amount of electricity from coal than it did wind.

Enel, Iberdrola, RWE, NextEra Energy



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and Orsted are now energy giants, and October 2020 saw the market value of NextEra Energy