Renewable energy projects constituted three-quarters of all new power generation capacity projects in the world last year, the International Renewable Energy Agency said in a new report. In even better news, IRENA said that renewable capacity additions rose by 7.6 percent last year and that they exceeded fossil fuel power-generation capacity additions by a factor of 2.6.
2019 was a good year for renewables, it seems, with solar and wind accounting for as much as 90 percent of the total. And yet the 176 GW added during that year was lower than the 179 GW added in 2018 in new capacity, suggesting a slowdown in new solar and wind additions, which may or may not be surprising given a change in the Chinese subsidy regime for new renewable projects and cost-efficiency considerations.
“While the trajectory is positive, more is required to put global energy on a path with sustainable development and climate mitigation – both of which offer significant economic benefits,” said the head of IRENA, Francesco La Camera. “At this challenging time, we are reminded of the importance of building resilience into our economies. In what must be the decade of action, enabling policies are needed to increase investments and accelerate renewables adoption.” CLICK for complete article