World Adds Record New Renewable Energy Capacity in 2020

Despite COVID-19 pandemic, more than 260GW of renewable energy capacity added globally in 2020, beating previous record by almost 50%

Global renewable energy capacity additions in 2020 beat earlier estimates and all previous records despite the economic slowdown that resulted from the COVID-19 pandemic. According to data released this week by the International Renewable Energy Agency (IRENA) the world added more than 260 gigawatts (GW) of renewable energy capacity last year, exceeding expansion in 2019 by close to 50 per cent.

IRENA’s annual Renewable Capacity Statistics 2021 shows that renewable energy’s share of all new generating capacity rose considerably for the second year in a row. More than 80 per cent of all new electricity capacity added last year was renewable, with solar and wind accounting for 91 per cent of new renewables.

“Despite the difficult period, as we predicted, 2020 marks the start of the decade of renewables,” said IRENA Director-General Francesco La Camera.. “Costs are falling, clean tech markets are growing and never before have the benefits of the energy transition been so clear.

At the end of 2020, global renewable generation capacity amounted to 2 799 GW with hydropower still accounting for the largest share (1 211 GW) although solar and wind are catching up fast. The two variable sources of renewables dominated capacity expansion in 2020 with 127 GW and 111 GW of new installations for solar and wind respectively.