Renewable Energy to Represent Almost 90% of Total Power Capacity for 2020

Global renewable power capacity will increase by 200 gigawatts or 7% by the end of 2020 according to a new report published by the International Energy Agency. This marks a new record for annual growth in the renewable energy sector and was driven by a surge in new projects from the US and China. Both countries saw a 30% increase in wind and solar as developers took advantage of financial incentives due to expire at year end. The report predicts that almost 90% of new electricity installed this year will come from renewable sources with the remaining 10% coming from fossil fuels. 

Furthermore, it is expected that India and the EU will drive an expansion of global renewable capacity additions of nearly 10% next year due to the commissioning of projects that were delayed by the COVID-19 pandemic. If this growth continues as expected, wind and solar capacity could increase by 1,123 gigawatts in 2024 and renewable energy could become the world’s largest source of electricity by 2025.  

We have included a selection of our most popular market research on renewable energy below.

Research and Markets offers more information on this topic:

Global Renewable Energy - Industry Report

• From €1187EUR$1,267USD£1,000GBP
•  Report
• September 2023
• 640 Pages
• Region: Global

The Renewable Energy (Global) Analysis provides a detailed overview of the Renewable Energy (Global) market and delivers a comprehensive individual analysis on the top 640 companies, including 7C Solarparken...

Global Renewable Energy Subscription

• From €18912EUR$19,500USD£16,490GBP
•  Report
• January 2023
• Region: Global

The two gating factors that will enable broad adoption of renewable energy are: 1. Corporate adoption of utility-scale storage systems. 2. People become active in making the companies they work for and...

Analyzing the Global Market for Concentrated Solar Power 2020

• From €970EUR$1,000USD£846GBP
•  Report
• November 2020
• 200 Pages
• Region: Global

The concentrated solar power industry is bound to be one of the biggest and most efficient in the coming times ahead. If utilized to its full potential, it could end up providing for the world’s 25% energy needs...

Renewable Energy - Thematic Research

• From €1891EUR$1,950USD£1,649GBP
•  Report
• August 2020
• 31 Pages
• Region: Global

Renewable Energy - Thematic Research Summary To improve energy security, reduce CO2 emissions and attain corporate sustainability goals, the global power sector has witnessed a shift in capacity additions...

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Renewable Energy Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

• From €4607EUR$4,750USD£4,017GBP €4146EUR$4,275USD£3,615GBP
•  Report
• August 2022
• 449 Pages
• Region: Global

The renewable energy installed capacity is anticipated to reach approximately 4800 GW by 2027, at a CAGR of 7.63% during the forecast period (2022-2027). The COVID-19 outbreak had a significant impact on the...