The First Annual Decline in the Renewable Annual Additions After Two Decades

IEA recently changed its forecasts about renewable annual addition in 2020. They had forecasted that it will be added 192 GW renewable capacity in 2020 but then the COVID-19 pandemic arrived. The revised forecast is now issued in “Renewable Market Update” report which released in May 2020.

According to IEA, additions of renewable electricity capacity will decline by 13% in 2020 compared with 2019, the first downward trend since 2000. This is a 20% downward revision compared to their previous forecast in which 2020 was due to be a record year for renewable power. 

They have forecasted 167 GW annual additional capacity for 2020. It is also worth to mention solar PV and wind power will likely account for 86% of global renewable capacity additions in 2020.

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Source:@ IEA & @Solar_Edition

Photo:@Solar_Edition

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