![]() ![]() ![]() We have revised the IEA forecast for global renewable capacity additions in 2020 upwards by 18% from our previous update in May. The renewables industry has adapted quickly to the challenges of the Covid crisis. Wind and solar PV additions are set to jump by 30% in both the People’s Republic of China (“China”) and the United States as developers rush to complete projects before changes in policy take effect. Solar PV growth is expected to remain stable as a faster expansion of utility-scale projects compensates for the decline in rooftop additions resulting from individuals and companies reprioritising investments. Higher additions of wind and hydropower are taking global renewable capacity additions to a new record this year, accounting for almost 90% of the increase in total power capacity worldwide. Driven by China and the United States, net installed renewable capacity will grow by nearly 4% globally in 2020, reaching almost 200 GW. ![]()
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