IEA: Huge growth in solar and wind energy in 2020 becomes 'new normal'

Another sign that renewable energy is squeezing out competition from fossil fuels -- at least when it comes to electricity. New renewable energy capacity - mainly solar and wind - accounted for 90% of global power sector growth last year, according to the International Energy Agency (IEA). The IEA is an intergovernmental organization founded to monitor world oil supplies but now also tracks renewable energy. The agency predicts that renewable energy will once again account for 90% of power sector growth in 2021 and 2022.

The shift to renewable energy generation is consistent with many countries’ climate change goals. For example, U.S. President Joe Biden’s goal is to have the U.S. power sector run entirely on clean energy by 2035. Powering buildings and transportation so they can use solar and wind energy instead of oil and gas is one way governments and the private sector can cut greenhouse gas emissions.

IEA Director General Fatih Birol said in a press statement today: "Wind and solar continue to break records, giving us more reasons to be optimistic about our climate goals."< br />

Renewable electricity capacity increased by 28 billion watts last year. Compared with the year before, the use of renewable energy increased by 45% last year. The IEA predicts that another 270 to 280 million kilowatts of electricity will be added this year and 2022.

Governments and businesses purchased renewable energy at a “record-breaking” pace last year, and their demand is still growing, according to the IEA. In December 2020, Amazon announced that it was the world's largest corporate buyer of renewable energy, surpassing the previous record holder Google, with its current global renewable energy capacity of 8.5GW. The IEA's current forecast for global renewable electricity growth in the next few years is more than 25% higher than its forecast six months ago.

　(Original title: IEA: Huge growth in solar and wind energy in 2020 becomes the "new normal")