Renewable sources dominated the energy market in 20191 min read
Renewable energy sources have continued to dominate new additions to the world’s power generation mix over the past year. Renewable capacity reached 2537 gigawatts (GW) globally by the end of 2019, up 176 GW from the previous year, equal to a 7,4% growth rate (2361 gigawatts in 2018).
Asia once again achieved over half of the new installations despite a slightly slower pace. Europe and North America, meanwhile, saw an upturn in their capacity expansion. Wind and solar power accounted for 90% of the world’s newly added renewable capacity.
In part, this very high share reflects low hydropower growth as several large projects missed expected completion deadlines. But even then, renewables represented 72% of total capacity additions in 2019, continuing to outpace fossil fuels by a wide margin.
This latest edition of Renewable Capacity Statistics comes amid a global health crisis that affects practically every sphere of life. As an existential threat, the multi-faceted fallout from coronavirus (COVID-19) now sits alongside climate change as a defining challenge of our time.
In responding to today’s crisis, governments may be tempted to focus on short-term solutions. Yet distinctions between short, medium, and long-term challenges may be deceptive. Economic stimulus measures must also embrace sustainability and climate goals.