Global RE capacity additions increase by 45 per cent in 2020

As per the International Energy Agency’s (IEA’s) latest renewable energy market update, the annual renewable energy capacity additions increased 45 per cent to almost 280 GW in 2020, the highest ever year-on-year increase since 1999.

In addition, renewable sources of electricity such as wind and solar grew at their fastest rate in two decades in 2020 and are set to expand in coming years at a much faster pace than prior to the pandemic. IEA expects renewable energy capacity addition of 270 GW in 2021 and 280 GW in 2022. Regarding India, the pandemic-induced construction delays and grid connection challenges caused the country’s capacity additions to decline by almost 50 per cent from 2019 to 2020.