Renewables at 20-year high in 2020
Developers in US, China and Vietnam rush to get projects connected in fourth quarter
More renewable capacity came online in 2020 than in any other year since 1999 as firms in the US, China and Vietnam rushed to get projects connected in order to benefit from expiring subsidy regimes. Capacity additions rose 45pc to reach 280GW last year, with developers connecting almost 150 GW of new renewable capacity in Q4–more than double the number for the fourth quarter of 2019 and more than the amount installed in the first three-quarters of 2020. The end-of-year rush illustrated the ability of supply chains to meet huge surges in demand, according to the IEA’s Renewable Energy Market Update. “Wind and solar power are giving us more reasons to be optimistic about our climate goals as
Also in this section
10 May 2024
Launch of project powered by geothermal energy in Iceland marks step forward in push to scale up expensive direct-air-capture technology
8 May 2024
Allowance prices rise 34% since start of year as regulator imposes tighter limits and considers reduction of free allocations
7 May 2024
Policymakers should consider backing enhanced weathering as a CDR technique with benefits to the agricultural sector
3 May 2024
Developers look to government’s forthcoming budget to restore support as industry suffers loss of momentum