May 11, 2021

Top 10 factors powering renewables growth

Renewables
Energy
forecasts
IEA
Dominic Ellis
6 min
Renewables was the only energy source for which demand increased in 2020 despite the pandemic according to the IEA

The IEA's Renewable Energy Market Update 2021 reiterates that the sector's time has come: it was the only energy source for which demand increased in 2020 despite the pandemic, while consumption of all other fuels declined.

In exploring recent market and policy developments, the Renewable Energy Market Update forecasts new global renewable power capacity additions for 2021 and 2022 and provides updated biofuel production forecasts for these years, as the sector suffered significant losses with declining transport demand during the pandemic.

Here are the 10 key factors which are driving the sector's strong growth.

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