Renewable power generation grew at the fastest rate for two decades in 2020 according to a new report from the International Energy Agency. 278 gigawatts of capacity was added last year, a 45 percent jump and the largest year-over-year increase since 1999. The growth was even more impressive given that it occurred in the midst of pandemic-induced supply chain challenges and construction delays.
The exceptional level of renewable energy capacity additions is expected to be maintained with 270 GW forecast to become operational in 2021 while 280 GW is predicted for 2022. The IEA attibutes the boom to policy decisions in the United States, China and Vietnam with China alone responsible for 80 percent of global annual installations between 2019 and 2020.