50% of added electricity capacity was renewable in 2015
According to the International Energy Agency (IEA), 50 per cent of global net electricity generation capacity added in 2015 was renewable
According to the International Energy Agency (IEA), 50 per cent of global net electricity generation capacity added in 2015 was renewable.
Last year, a record 153GW of net renewable electricity capacity was added globally - net capacity being calculated by subtracting retired capacity – like old hydro taken offline – to new capacity.
The IEA argues that this milestone shows the energy transition is now happening, and they predict the faster growth of renewable energy compared to oil, gas, coal and nuclear during the next five years.
Dr Fatih Birol, executive director of the IEA, said: “What I see is we are witnessing the transformation of energy system markets led by renewables and this is happening very quickly... This transformation and the growth of renewables is led by the emerging countries in the years to come, rather than the industrialised countries.”
The regions with the greatest growth in renewables are China – which is expected to be responsible for 40 per cent of renewables growth in the next five years with 305GW added, the US and Europe – which is, however, handicapped by its low electricity demand and policy uncertainty.
63GW of new capacity was added last year in wind farms and 49GW of solar power, and their costs are expected to continue falling down 15 per cent more for wind and 25 per cent more for solar by 2021.
Birol said: “The cost of wind dropped by about one third in the last five to six years, and that of solar dropped by 80%... The decline in renewables [cost] was very sharp and in a very short period of time. This is unprecedented.”
28 per cent of global electricity generation is expected to come from clean energy by 2021, in comparison to 23 per cent last year.
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