Global renewable energy capacity saw massive growth last year, the International Energy Agency (IEA) has said.

In its latest Renewable Energy Market report, the IEA suggests the world added a record 295GW of new renewable energy capacity in 2021.

The study estimated global capacity additions are expected to rise this year to 320GW – that is equivalent to the amount of power that would be needed to cover all electricity demand in Germany.

The authors of the report note solar power will most likely become the “king” of the newly installed renewable power capacity as it is predicted to account for 60% of global growth this year.

China, Latin America and the EU are leading areas in this renewable energy growth, the IEA has said.

IEA Executive Director Fatih Birol said: “Cutting red tape, accelerating permitting and providing the right incentives for faster deployment of renewables are some of the most important actions governments can take to address today’s energy security and market challenges while keeping alive the possibility of reaching our international climate goals.”

Article source: https://www.energylivenews.com/2022/05/12/iea-world-added-record-renewable-energy-capacity-in-2021/