2020 was a Record Year for New Renewable Energy Capacity Worldwide, Despite the COVID-19 Pandemic. More than 260 GW of Additional Capacity was Installed Worldwide in 2020, and New Renewable Energy’s Growth Jumped by 50%.

The World Hailed it the Advent of “the Decade” of Renewables Energy.

Abu Dhabi, United Arab Emirates, April 5, 2021 – In 2020, New Renewable Energy Capacity Exceeded Estimates and Broke All Records. According to data released today by the International Renewable Energy Agency (IRENA), more than 260 Giga Watts (GW) of Renewable Energy Capacity was Installed Last Year, a 50% faster Growth Rate than in 2019.

The Annual Renewable Energy Capacity Statistics Released by IRENA in 2021 show that Renewable Energy Capacity has Grown Significantly as a proportion of Total New Energy Generation Capacity Installed for the Second Year in a Row. More than 80% of All New Power Capacity Installed Last Year was from Renewable Energy Sources. Solar and Wind Energy account for 91% of this New Capacity.

The Relative Growth in Renewables Energy is partly due to the decline, in Net Terms, of Fossil Fuel Power Generation Capacity in Europe, North America and, for the First Time, Eurasia (Armenia, Azerbaijan, Georgia, Russian Federation and Turkey). A total of 60 GW of New Fossil Fuel Capacity came online in 2020, compared to 64 GW the Year before, showing that the Fossil Fuel expansion continues to slow down.

What these Numbers Reveal is a Story built on Resilience and Hope. Despite the Challenges and Uncertainty that have Loomed over 2020, Renewable Energy has become a Fundamental Source of Optimism for a Better, more Equitable, Resilient, Clean, and Just Future, said IRENA’s Director General. The Downturn that Humanity has experienced has provided a moment of Reflection; it Gives Us a chance to get on the Path to Prosperity without being left behind, and I believe we will seize that Chance.

Despite these Challenging Times, 2020 mark, as we Predicted, the Advent of the Renewable Energy Decade, Costs are Dropping, Clean Technology Markets are growing, and never have the Benefits of Energy Transition been so clear.

The Secretariat of IRENA, there is no stopping this trend, but as our “Outlook for Global Energy Transitions” points out, there is still a lot to do. Our 1.5-degree Outlook shows that Massive Planned Energy Investments must be Redirected to support the Global Energy Transitions if the 2050 Targets are to be met. In this Crucial Decade, the International Community Must Take Note of this Trend and be Inspired to go further, he concluded.

The 10.3% Increase in Installed Capacity exceeds Long-Term Projections for more modest year-over-year Growth. By the End of 2020, Global Renewable Energy Capacity Stood at 2 799 GW, with Hydropower still leading the way (1 211 GW), although Solar and Wind are Catching up fast. The Two Variable Sources of Renewable Energy that dominated Capacity Expansion in 2020 were New Solar (127 GW) and Wind (111 GW).

China and the United States of America experienced the most Pronounced Market Growth, starting in 2020. China, already the World’s largest Renewable Energy Market, added 136 GW of Capacity Last Year, mostly Wind (72 GW) and Solar (49 GW). The United States of America added 29 GW of Renewable Energy Capacity Last Year, an 80% increase over 2019, Split Between Solar (15 GW) and Wind (about 14 GW). Africa continued on its steady Development Path, the New Capacity came online on the continent at 2.6 GW, slightly more than in 2019. Oceania remained the fastest-Growing Region (+18.4%), although it accounts for only a small fraction of Global Capacity and almost all of this expansion had Australia as its theatre.

Strengths by Technology

Hydropower
Hydropower Growth picked up in 2020, with Several Large Projects Planned for 2019 coming online that Year. China added 12 GW of Additional Capacity and Turkey added 2.5 GW.

Wind Energy
Wind Energy Expansion nearly doubled in 2020 compared to 2019 (111 GW vs. 58 GW). China added 72 GW of New Capacity and the United States of America added 14 GW. Ten Other Countries added more than 1 GW of Wind Energy Capacity in 2020. The Offshore Wind Energy has grown to about 5% of Total Wind Capacity in 2020.

Solar Energy
Total Solar Capacity is now at about the same Level as Wind Energy Capacity, largely due to the Expansion in Asia in 2020 (78 GW). China (49 GW) and Vietnam (11 GW) have seen Significant Expansion in Installed Capacity. Japan has added more than 5 GW. India and the Republic of Korea added over 4 GW of Solar Capacity. The United States of America has added 15 GW.

BioEnergy
Net Capacity Expansion halved in 2020 (2.5 GW in 2020 vs. 6.4 GW for 2019). BioEnergy Capacity in China has increased by over 2 GW. Europe was the only other Region to see Significant Expansion in 2020, with BioEnergy Generation Capacity increasing by 1.2 GW, a figure comparable to 2019.

Geothermal Energy
Very Little New Capacity was Installed in 2020. Turkey added 99 MW of Capacity and Small Expansions took place in the United States of America, Italy, and New Zealand.

Off-Grid Electricity
Off-Grid Capacity increased by 365 MW in 2020 (+2%) to 10.6 GW. Solar increased by 250 MW to 4.3 GW and Hydro was virtually unchanged at about 1.8 GW.