January 19, 2018

IEA says China remains leader of renewables

05 October 2017, 12:35 | Rodolfo Wallace

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The current levels of renewable growth around the world alongside predictions for the next five years. "This year, it was equivalent to the total installed capacity of PV in Germany". That's nothing. For reference, it's actually less than is now installed in the city of San Antonio.

The agency added that it expects more than 920GW of clean power to be installed by 2022, an increase of 43%.

China's solar dominance is only going to keep growing, according to the IEA report.

Regardless of where it stands in a specific region of the world, renewables in general and solar PV in specific are making rapid advances across the globe.

Solar energy was the fastest-growing source of electric power a year ago, a new report said on Wednesday, amid the "birth of a new era" for the reneweable energy sector.

In IEA's accelerated case that considers fewer policy barriers, clean energy capacity could increase by an additional 27 percent. Renewable electricity generation will grow by more than a third to over 8,000 TWh.

"We expect that solar PV capacity growth will be higher than any other renewable technology through 2022", it noted.

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IEA said in its "Renewables 2017" report that China accounted for half of the solar growth, which increased by 50% a year ago.

Canadian hydro power capacity is projected to grow 2.2GW in the next five years, mostly due to the commissioning of the Keeyask plant in Manitoba the Muskrat Falls dam in Newfoundland and Labrador and the Romaine 3 and 4 stations in Quebec. "We see renewables growing by about 1,000 GW by 2022, which equals about half of the current global capacity in coal power, which took 80 years to build", Fatih Birol, the IEA's executive director, said.

Did you get that?

Solar capacity in Canada is expected to grow by 2GW to 4.7GW in 2022, mostly due to feed-in-tariff programs in Ontario and renewable energy tenders now underway in Alberta.

As China is proving, there is a dramatic shift in how emerging economies are powering their development. Solar energy has already become the world's cheapest energy source, and new low prices were announced worldwide, including in India, the United Arab Emirates, Mexico, and Chile.

Developing countries are now looking to renewables as engines of economic growth.

The IEA's raised forecast was powered by a spike in solar PV (photovoltaic) capacity in China, India and the United States, with China accounting for nearly half of this expansion.

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