According to The Australian Financial Review, the COVID-19 pandemic has supercharged the growth in wind and solar power, which expanded at its fastest rate in 20 years in 2020 and is forecast to grow in the coming years at a much more rapid pace than earlier anticipated.
The amount of renewable energy generation capacity added last year surged 45 per cent to 280 gigawatts, the biggest increase since 1999 and equivalent to the total installed capacity of the ASEAN region, the International Energy Agency found.
But that stunning rate of growth is set to become the new normal. The IEA anticipates only a marginal slowdown this year to 270 GW of growth, before increasing back to 280 GW of extra capacity next year, despite an expected slowdown in China. Renewables are expected to account for nine-tenths of global power capacity additions worldwide in 2021 and 2022.
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