The International Energy Agency has highlighted the claimed 50% growth in solar PV installations in 2016, which reached over 74GW, is part of a new trend that showed renewable energy sources with almost two-thirds of net new power capacity that approached 165GW coming online.
Historically, the IEA has significantly underestimated growth in renewables, notably solar PV and its newly renamed report ‘Renewables 2017’ (formerly titled Medium-Term Renewable Energy Market Report) is an attempt to redress fundamental failings over the last decade of forecasts.
According to the new report, IEA’s renewables growth forecast is 12% higher than projection made in the 2016 report, driven by the realisation of PV installation growth in China and India as well as the US.
