The number of new renewable energy installations around the world is expected to fall this year as a result of the Covid-19 pandemic. But, no matter how much the crisis affects, it does not interrupt the global growth of renewable capacity – this is what a recent study published by the IEA (International Energy Agency) states.
The agency estimates that 167 GW of renewable capacity will come online this year, a 13% decline from 2019. However, this will still add 6% to total installed capacity, more than the combined size of power systems in the North America and Europe, with solar and wind energy accounting for the majority of new installations.
The United States and China, for example, are expected to increase their renewable capacity this year and next as companies race to complete projects before government incentives end.
According to the IEA, the crisis could provide an opportunity for green energy to permanently replace highly polluting fossil fuels such as coal.
“Globally, the overall demand for renewable energy is expected to increase due to its use in the electricity sector. Even with electricity demand falling significantly due to lockdown measures, low operating costs and priority access to the electricity grid in many markets allow renewables to operate at almost full capacity, enabling the growth of renewable generation,” it states the report.
The agency also points out that this increase in production is partly due to record capacity additions in 2019, a trend that is expected to continue this year. However, supply chain disruptions, construction delays and macroeconomic challenges increase uncertainty about the total amount of renewable capacity growth in 2020 and 2021.
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