In 2020, renewable energy sources such as wind and solar grew at their fastest rate since 1999 — and will continue expanding at a faster rate than before the pandemic, according to a report by the International Energy Agency .
Moving towards renewable sources is one of the key ways to reduce global emissions and achieve carbon neutrality.
The amount of renewable electricity capacity added in 2020 rose by 45% in 2020 to 280 gigawatts , the largest year-on-year increase in the past two decades, IEA showed.
“Wind and solar power are giving us more reasons to be optimistic about our climate goals as they break record after record.
While the increase won’t be as significant over the next few years, it will still be 50% larger than the expansion seen between 2017 and 2019, the IEA said.
Although China has accounted for 40% of global renewable capacity growth for several years already, for the first time in 2020 it was responsible for 50% – a record level resulting from the unprecedented peak in new installations.
In Europe, annual capacity additions are forecast to increase 11% to 44 GW in 2021 and 49 GW in 2022.
Meanwhile, in the US, renewable capacity growth this year and next is mainly encouraged by the extension of federal tax credits.
Hopefully, that will soon change — installing renewable energy is only one part of the challenge, keeping fossils fuels in the ground is what’s going to make or break our climate efforts.