IEA: Global Renewables Capacity To Grow in 2020 Despite Pandemic
In a significant turnaround from a spring forecast clouded by COVID-19 pandemic concerns, the International Energy Agency has revised its expectations for 2020 global renewables additions. The agency’s latest report, released Tuesday, now expects capacity additions to grow 4 percent from 2019, hitting a record of nearly 200 gigawatts this year and bumping up forecasts by 18 percent from the crunch the agency projected in May.
Though many parts of the globe, including the United States, are coping with worsening rates of COVID-19 transmission, IEA’s new forecast indicates that renewables have bounced back quickly from the pandemic-fueled slowdowns that occurred in the spring of 2020.
Many economies have resisted reimposing shutdowns even as case numbers rise, but renewables industries have been treated as essential work in some jurisdictions.
Photo courtesy of James Moran.