Renewable power capacity is forecast to increase by 50% between 2019 and 2024, the International Energy Agency (IEA) said Monday.
According to its “Renewables 2019” market report, the increase will amount to 1,200 gigawatts (GW) and be driven by drops in cost and what the IEA described as “concerted government policy efforts.” In 2018, renewable capacity hit just over 2,500 GW. If the IEA’s forecast plays out, it would bring total renewable capacity to approximately 3,700 GW by 2024.
Capacity refers to the maximum amount that installations can produce, not what they are currently generating.
