Renewable Energy Capacity on the Rise

According to the International Renewable Energy Agency's (IRENA) "Renewable Capacity Statistics 2021" report, global renewable energy capacity increased as governments implemented the right policies to boost investments. As a result, installed renewable energy capacity worldwide rose by 260 gigawatts last year, reaching 2,799 gigawatts. Wind and solar investments accounted for approximately 91 percent of the additional installed capacity. During this period, 127 gigawatts of installed capacity came online in solar energy, and 111 gigawatts in wind energy. IRENA Director General Francesco La Camera, whose views are cited in the report, noted that the increases in installed capacity achieved last year were noteworthy, stating: "Despite the uncertainty created by the new coronavirus (COVID-19) pandemic, which occurred last year and whose effects continue, the growth in renewable energy has brought hope and optimism to markets. Costs in renewable energy in particular are declining. Clean energy equipment markets are expanding thanks to energy transition policies. This trend has become unstoppable."   Source