Renewable energy use is accelerating

Global energy demand has fallen by 4% in 2020 due to the disruption of flights in 2020, the loss of jobs and the closure of utilities. But part of the world’s electricity market continues to grow. According to a new report by the International Energy Agency (IEA), renewable energy generation has grown rapidly over the past two decades. New renewable energy capacity increased by 45% last year, adding 280GW to world supply – more than Germany’s total power generation capacity.

The Economist Today

Manually selected stories, in your inbox

Daily email with our best journalism

The increase is partly due to the sudden struggle for more renewable energy in the United States, China, and Vietnam before the end of government subsidies. As a result of such programs, renewable energy has been doubled in the fourth quarter of 2020 (see chart). Although hydroelectric power has expanded significantly, most of these discoveries have moved to new wind and solar installations. A.D. China has 80% of new solar and coastal wind loads as subsidies expire by the end of 2020.

IEA predicts new capacity of 270GW in the next few years and 280GW in 2022, with similar growth expected in the next few years in renewable energy production. To build a renewable capacity record size. Electricity Supply Long Term Agreements Market: Expansion by 2020. These trends are evident in the EU as governments and companies press for the 2030 climate change goals. It is expected to continue in the coming years as long as there is adequate supply of essential minerals for wind turbines and other materials such as nickel, cobalt, lithium, copper and precious metals.

However, fossil fuels remain the world’s energy source for renewable growth last year, with production expected to increase by 2021. A report published in April, as well as IEA, predicted an increase in energy-related carbon dioxide emissions. When key locks are lifted and countries are reopened, only by reversing the reductions that occurred during the outbreak. Global coal demand for electricity is expected to reach an annual peak. The world is moving toward more power. The current increase in renewable energy is a cause for optimism, but only a small amount.

For more coverage on climate change, for climate issues, subscribe to our bi-weekly newsletter or visit our Climate Change Center

Leave a Comment