Renewables will be responsible for nearly 90% of new power capacity this year as the sector shrugs off COVID-19, with an even greater 2021 on the horizon.
New analysis released today by the International Energy Agency (IEA) shows that the renewables sector is to shrug off any impact from the COVID-19 pandemic and report growth of around 7% this year, supported by long-term procurement contracts, priority dispatch on national grids and ongoing installations.
As a result, total renewable capacity additions will reach nearly 200GW this year, a feat achieved despite a worldwide contraction in energy demand triggered by the pandemic and associated national lockdowns.
