New Energy Was 72% Of 2019 Global Energy Growth

In 2019, Three Quarters Of The World’s New Energy Projects Were Renewable

David Vetter, April 6, 2020 (Forbes)

Some welcome good news for a pandemic-weary world: renewable energy made up 72% of all new energy generation projects last year, with solar and wind power making up 90% of that capacity…[A report from the International Renewable Energy Agency [IRENA] found 176 gigawatts (GW) of renewable energy capacity were added globally last year—a growth of 7.4%—with a notable 54% of that new capacity being added in Asia…[The numbers show New Energy is not only] the most sustainable option, but also the best economic solution to energy woes, with an oil price war raging against the backdrop of populations being ravaged by the coronavirus outbreak…The report found that total global renewable energy capacity now stands at 2,537 GW, with 47% of that total coming from hydropower. Wind energy rose from 180,850 megawatts (MW) in 2010 to 622,704 MW in 2019, while solar energy capacity went from 41,542 MW at the beginning of the decade to 586,434 MW—increases of 244% and 1,311%, respectively…

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[In Asia, New Energy] capacity rose 9.3% in 2019…[F]ossil fuel generation is also rising rapidly in Asia, with coal generation in China alone rising by 43.8 GW last year. By comparison, the region of Oceania, including Australia, New Zealand and the Pacific island nations, generates only 40 GW from renewable energy in total…[Sustained] growth is by no means a given: the global increase in renewables capacity for 2019 was 1.7% slower compared with 2018, the year in which a record 179 GW of capacity was added. All told, renewable sources generated 34.7% of the world’s electricity in 2019, up from 33.3% in 2018…” click here for more

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