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World Adds Record New Renewable Energy Capacity in 2020

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Global renewable energy capacity additions in 2020 beat earlier estimates and all previous records despite the economic slowdown that resulted from the COVID-19 pandemic. According to data released today by the International Renewable Energy Agency (IRENA) the world added more than 260 gigawatts (GW) of renewable energy capacity last year, exceeding expansion in 2019 by close to 50 per cent.

IRENA’s annual Renewable Capacity Statistics 2021 shows that renewable energy’s share of all new generating capacity rose considerably for the second year in a row. More than 80 per cent of all new electricity capacity added last year was renewable, with solar and wind accounting for 91 per cent of new renewables.

Renewables’ rising share of the total is partly attributable to net decommissioning of fossil fuel power generation in Europe, North America and for the first time across Eurasia (Armenia, Azerbaijan, Georgia, Russian Federation and Turkey). Total fossil fuel additions fell to 60 GW in 2020 from 64 GW the previous year highlighting a continued downward trend of fossil fuel expansion.

“These numbers tell a remarkable story of resilience and hope. Despite the challenges and the uncertainty of 2020, renewable energy emerged as a source of undeniable optimism for a better, more equitable, resilient, clean and just future,” said IRENA Director-General Francesco La Camera. “The great reset offered a moment of reflection and chance to align our trajectory with the path to inclusive prosperity, and there are signs we are grasping it.

“Despite the difficult period, as we predicted, 2020 marks the start of the decade of renewables,” continued Mr. La Camera. “Costs are falling, clean tech markets are growing and never before have the benefits of the energy transition been so clear. This trend is unstoppable, but as the review of our World Energy Transitions Outlook highlights, there is a huge amount to be done. Our 1.5 degree outlook shows significant planned energy investments must be redirected to support the transition if we are to achieve 2050 goals. In this critical decade of action, the international community must look to this trend as a source of inspiration to go further,” he concluded.

The 10.3 per cent rise in installed capacity represents expansion that beats long-term trends of more modest growth year on year. At the end of 2020, global renewable generation capacity amounted to 2 799 GW with hydropower still accounting for the largest share (1 211 GW) although solar and wind are catching up fast. The two variable sources of renewables dominated capacity expansion in 2020 with 127 GW and 111 GW of new installations for solar and wind respectively.

China and the United States of America were the two outstanding growth markets from 2020. China, already the world’s largest market for renewables added 136 GW last year with the bulk coming from 72 GW of wind and 49 GW of solar.  The United States of America installed 29 GW of renewables last year, nearly 80 per cent more than in 2019, including 15 GW of solar and around 14 GW of wind. Africa continued to expand steadily with an increase of 2.6 GW, slightly more than in 2019, while Oceania remained the fastest growing region (+18.4%), although its share of global capacity is small and almost all expansion occurred in Australia.

Highlights by technology:

Hydropower: Growth in hydro recovered in 2020, with the commissioning of several large projects delayed in 2019. China added 12 GW of capacity, followed by Turkey with 2.5 GW.

Wind energy: Wind expansion almost doubled in 2020 compared to 2019 (111 GW compared to 58 GW last year). China added 72 GW of new capacity, followed by the United States of America (14 GW). Ten other countries increased wind capacity by more than 1 GW in 2020. Offshore wind increased to reach around 5% of total wind capacity in 2020.

Solar energy: Total solar capacity has now reached about the same level as wind capacity thanks largely to expansion in Asia (78 GW) in 2020. Major capacity increases in China (49 GW) and Viet Nam (11 GW). Japan also added over 5 GW and India and Republic of Korea both expanded solar capacity by more than 4 GW. The United States of America added 15 GW.

Bioenergy: Net capacity expansion fell by half in 2020 (2.5 GW compared to 6.4 GW in 2019). Bioenergy capacity in China expanded by over 2 GW. Europe the only other region with significant expansion in 2020, adding 1.2 GW of bioenergy capacity, a similar to 2019.

Geothermal energy: Very little capacity added in 2020. Turkey increased capacity by 99 MW and small expansions occurred in New Zealand, the United States of America and Italy.

Off-grid electricity: Off-grid capacity grew by 365 MW in 2020 (2%) to reach 10.6 GW. Solar expanded by 250 MW to reach 4.3 GW and hydro remained almost unchanged at about 1.8 GW.

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Global emissions are set to surge to an all-time high

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Governments worldwide are deploying an unprecedented amount of fiscal support aimed at stabilising and rebuilding their economies, but only about 2% of this spending has been allocated to clean energy measures, according to new analysis from the International Energy Agency.

The sums of money, both public and private, being mobilised worldwide by recovery plans fall well short of what is needed to reach international climate goals. These shortfalls are particularly pronounced in emerging and developing economies, many of which face particular financing challenges.

Under governments’ current recovery spending plans, global carbon dioxide (CO2) emissions are set to climb to record levels in 2023 and continue rising in the following years. This would leave the world far from the pathway to net-zero emissions by 2050 that the IEA set out in its recent Global Roadmap to Net Zero.

These findings come from the new Sustainable Recovery Tracker that the IEA launched today to help policy makers assess how far recovery plans are moving the needle on climate. The new online tool is a contribution to the G20 Ministerial Meeting on Environment, Climate and Energy in Naples, which takes place on 22 and 23 July under the Presidency of Italy.

The Tracker monitors government spending allocated to sustainable recoveries and then estimates how much this spending boosts overall clean energy investment and to what degree this affects the trajectory of global CO2 emissions. The Tracker considers over 800 national sustainable recovery policies in its analysis, which are publicly available on the IEA website.

“Since the Covid-19 crisis erupted, many governments may have talked about the importance of building back better for a cleaner future, but many of them are yet to put their money where their mouth is. Despite increased climate ambitions, the amount of economic recovery funds being spent on clean energy is just a small sliver of the total,” said Fatih Birol, the IEA Executive Director.

Governments have mobilised USD 16 trillion in fiscal support throughout the Covid-19 pandemic, most of it focused on emergency financial relief for households and firms. Only 2% of the total is earmarked for clean energy transitions.

In the early phases of the pandemic, the IEA released the Sustainable Recovery Plan, which recommended USD 1 trillion of spending globally on clean energy measures that could feature prominently in recovery plans. According to the Plan – developed in collaboration with the International Monetary Fund – this spending would boost global economic growth, create millions of jobs and put the world on track to meet the Paris Agreement goals.

According to the Tracker, all the key sectors highlighted in the IEA Sustainable Recovery Plan are receiving inadequate attention from policy makers. Current government plans would only increase total public and private spending on clean energy to around USD 350 billion a year by 2023 – only 35% of what is envisaged in the Plan.

The Tracker shows the stark geographic disparities that are emerging in clean energy investment. The majority of funds are being mobilised in advanced economies, which are nearing 60% of the investment levels envisaged in the Sustainable Recovery Plan. Emerging and developing economies, many of which have limited fiscal leeway, have so far mobilised only about 20% of the recommended spending levels.

“Not only is clean energy investment still far from what’s needed to put the world on a path to reaching net-zero emissions by mid-century, it’s not even enough to prevent global emissions from surging to a new record. Many countries – especially those where the needs are greatest – are also missing the benefits that well planned clean energy investment brings, such as stronger economic growth, new jobs and the development of the energy industries of the future,” Dr Birol said

“Governments need to increase spending and policy action rapidly to meet the commitments they made in Paris in 2015 – including the vital provision of financing by advanced economies to the developed world,” Dr Birol added. “But they must then go even further by leading clean energy investment and deployment to much greater heights beyond the recovery period in order to shift the world onto a pathway to net-zero emissions by 2050, which is narrow but still achievable – if we act now.”

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Portugal’s energy policies set a clear pathway towards 2050 carbon neutrality

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Portugal’s equitable and well-balanced plans for reaching a carbon-neutral economy should support the country’s economic growth and energy security, according to a new energy policy review by the International Energy Agency.

Portugal’s energy and climate policies aim to reach carbon neutrality primarily through broad electrification of energy demand and a rapid expansion of renewable electricity generation, along with increased energy efficiency. These measures are backed by a strong focus on reducing dependency on energy imports and maintaining affordable access to energy. In the longer term, Portugal is aiming for hydrogen to play a major role in achieving carbon neutrality.

“Portugal was among the first countries in the world to set a target for carbon neutrality by 2050, and its Roadmap for Carbon Neutrality shows a strong commitment to electrifying its economy and ensuring a secure and affordable energy transition,” said Fatih Birol, the IEA Executive Director, who is launching the policy review today at an event with João Pedro Matos Fernandes, Portugal’s Minister for the Environment and Climate Action. “The IEA looks forwards to supporting the Portuguese government as it works on a fair and inclusive transition to a carbon-neutral economy.”

Portugal’s climate and energy goals still face notable challenges, the IEA policy review notes, with an economy that remains heavily reliant on imported fossil fuels today. The report welcomes steps the government is taking to address these challenges. An effective auction process for renewable energy projects should result in almost 2 gigawatts of new renewable generation coming online in the next few years, which will triple Portugal’s solar PV capacity.

Portugal is pushing to reduce oil demand and associated emissions through transport decarbonisation, with over EUR 10 billion of investments in electrified rail and public transport, favourable tax treatment for electric vehicles and support for charging infrastructure. Portugal is also taking a major step towards lowering emissions and reducing energy import dependency by phasing out coal-fired electricity generation in 2021.

Portugal sees a key role for hydrogen produced from renewable energy in hard-to-decarbonise sectors and for achieving carbon neutrality. The National Hydrogen Strategy sets a goal for hydrogen produced from renewable energy to cover 1.5-2% of Portugal’s energy demand by 2030, with use in industry, domestic maritime shipping, road transport and for injection into the natural gas network and potential exports.

“I congratulate Portugal for developing a broad policy framework with robust measures to achieve emission reductions,” Dr Birol said. “Portugal has found a good balance of ambitious targets and competitive support measures needed to drive a cost-effective energy transition.”

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EU energy programme with Eastern partner countries extends into second phase

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The European Commission has launched the second phase of its EU4Energy programme, which promotes low-carbon and clean energy transitions in the Eastern Partnership (EaP), a joint initiative involving the European Union, its Members States and six Eastern European Partners: Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.

“Promoting the Clean Energy Transition in the Eastern Partnership Countries: EU4Energy Phase II” will run for the next four years and will help develop legislative and regulatory frameworks that support the region’s energy transformation and the liberalisation of its energy markets, as well the digitalisation of its energy systems. Beyond reducing emissions, the programme’s goal is to provide the citizens of the Eastern Partnership Countries with more stable and resilient energy supplies, empowering consumers and increasing energy security.

The International Energy Agency is a partner in the EU4Energy programme along with the Council of European Energy Regulators (CEER) and the Energy Community Secretariat (EnCS). The 8 July kick-off conference for the programme’s second phase includes country representatives from Armenia, Azerbaijan, Georgia, Moldova and Ukraine who will share their knowhow and experience to further enhance cooperation in the energy sector within the region.

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