Wednesday, April 8, 2020

Renewable Energy Accounts for Majority of New Capacity in 2019

Matthew Mercure
The renewable energy sector added 176 GW of generating capacity globally in 2019, slightly lower than the 179 GW added in 2018. However, new renewable power accounted for 72% of all power expansion last year, according to new data released by the International Renewable Energy Agency (IRENA).

IRENA’s annual Renewable Capacity Statistics 2020 shows that renewables expanded by 7.6% last year, with Asia dominating growth and accounting for 54% of total additions. While the expansion of renewables slowed last year, total renewable power growth outpaced fossil fuel growth by a factor of 2.6, continuing the dominance of renewables in power expansion first established in 2012. Solar and wind contributed 90% of total renewable capacity added in 2019.

“Renewable energy is a cost-effective source of new power that insulates power markets and consumers from volatility, supports economic stability and stimulates sustainable growth,” says Francesco La Camera, director-general of IRENA.