IEA predicts record year for renewables in 2021

ATR TRMEThe International Energy Agency (IEA) has forecasted that renewable electricity generation will increase by more than 8% to reach 8,300TWh in 2021

Photovoltaic (PV) solar and wind are expected to contribute to two-thirds of the growth in renewables electricity generation, according to the IEA in its Global Energy Review 2021 report.

According to the IEA, China alone should account for almost half of the global increase in renewable electricity in 2021, followed by the US, EU and India.

According to the IEA, policy deadlines in China and the US resulted in developers completing a record amount of capacity in the fourth quarter of 2020, which led to a significant increase in generation in the first two months in 2021.

China is expected to generate 600TWh from renewables, with the US set to generate 400TWh – which combined will represent more than half of global wind output.

While the IEA expects China to remain the largest PV market, it states that the US will see significant expansion as a result of policy support at federal and state level. The IEA also sees a recovery in India’s solar market, with PV solar capacity additions falling sharply in 2020 as a result of delays from the COVID-19 pandemic.

The IEA states in its report that long-term contacts, priority access to the grid and the continuous installation of new clean energy plants led to a growth in renewables despite lower global electricity demand and supply chain challenges for projects.

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