Renewable energy has ‘another record year of growth' says IEA

Asia's Tech News Daily

Photograph: Phil Noble/Reuters

Renewables will account for about 95% of growth in global power-generation capacity up to the end of 2026, finds energy agency

It has been another record year for renewable energy, despite the Covid-19 pandemic and rising costs for raw materials around the world, according to the International Energy Agency (IEA).

About 290GW of new renewable energy generation capacity, mostly in the form of wind turbines and solar panels, has been installed around the world this year, beating the previous record last year. On current trends, renewable energy generating capacity will exceed that of fossil fuels and nuclear energy combined by 2026.

Related: Energy firms fined after subsea cable delay pauses Scottish windfarms

New climate and energy policies in many countries around the world have driven the growth, with many governments setting out higher ambitions on cutting greenhouse gas emissions before and at the Cop26 UN climate summit in Glasgow last month.

However, this level of growth is still only about half that required to meet net zero carbon emissions by mid-century.

Fatih Birol, executive director of the IEA, said: “This year’s record renewable energy additions are yet another sign that a new global energy economy is emerging. The high commodity and energy prices we are seeing today pose new challenges for the renewable industry, but elevated fossil fuel prices also make renewables even more competitive.”

According to the IEA report, published on Wednesday, renewables will account for about 95% of the increase in global power-generation capacity from now to the end of 2026, with solar power alone providing about half of the increase.

Raw material prices have risen as the world has emerged from the Covid pandemic and on the back of the energy price rises around the world. These price increases have cancelled out some of the cost falls of recent years in the renewable sector. If they continue next year the cost of wind power will return to levels last seen in 2015, and two to three years of cost falls in solar power will be wiped out.

Heymi Bahar, lead author of the report, said that commodity prices were not the main obstacles to growth, however. Wind and solar would still be cheaper than fossil fuels in most areas, he noted. Permitting was the main barrier to new wind energy projects around the world, and policy measures were needed to expand use of solar power for consumers and industry.

“We need a gear change to meet net zero,” he said. “We have already seen a very important gear change in recent years but we need to move up another gear now. It is possible, we have the tools. Governments need to show more ambition, not just on targets but on policy measures and plans.”

China installed the most new renewable energy capacity this year, and is now expected to reach 1,200GW of wind and solar capacity in 2026, four years earlier than its target of 2030. China is the world’s biggest carbon emitter, but the government was reluctant at Cop26 to commit to the strengthening of its emissions-cutting targets, which many observers had hoped for.

China is targeting a peak in emissions by 2030, which many analysts say is much too late if the world is to limit global temperature rises to 1.5C above pre-industrial levels, the Paris agreement target that was the focus of the Cop26 talks.

Birol said China’s rapid expansion of renewable energy suggested the country could reach an emissions peak “well before 2030”.

India, the world’s third-biggest emitter, also experienced strong growth in renewable energy capacity in the past year, but its target – set out at Cop26 – of reaching net zero by 2070 is also regarded as too weak by many. Birol said: “The growth of renewables in India is outstanding, supporting the government’s newly announced goal of reaching 500GW of renewable power capacity by 2030 and highlighting India’s broader potential to accelerate its clean energy transition.”

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Malawi vs Senegal LIVE: Sadio Mane, Edouard Mendy and Co need one point to definitely secure AFCON knockout spot against third-placed opponents

Senegal take on Malawi in their final Africa Cup of Nations group stage matchSadio Mane and Co need one more win to 100 per cent secure a knockout spotDefeat may even be enough for Senegal as they could qualify from thirdSenegal have four points so they would be one of the best third-placed sides  Latest AFCON news, including live action and results Read more »

Rio Ferdinand urges the Manchester United board to step in and 'shut down' Anthony Martial if he's found to be lying about refusing to be a part of the squad, with his comments 'belittling' interim boss Ralf Rangnick

Rio Ferdinand has urged Manchester United to settle Martial and Rangnick's rowRangnick claimed Martial refused to be a part of the sqaud for their trip to VillaMartial took to social media to dismiss those claims, saying it wasn't trueFerdinand believes the club need to get to the bottom of the matter quicklyThe United legend suggested 'shutting Martial down' if he's found to be lying  Read more »

Simon Cowell's accident was 'catalyst' for proposal to Lauren Silverman, his brother says

Simon Cowell’s brother has revealed his accident, where he broke his back, was the “catalyst” for his engagement to Lauren Silverman. Britain’s Got Talent boss Simon, 62, has been in ... Read more »

Back in print: Matric exam results given green light with handful of ‘examination malpractice' cases pending

The education quality assurance council Umalusi has given its approval for the release of the 2021 National Senior Certificate exam results, despite some irregularities identified during the writing of the ... Read more »

The private sector's big ethics problem unravels after State Capture report

Big business has not emerged from the Zondo Commission report with a glowing track record, as it has been ensnared again in sophisticated corruption that has turned SA into a ... Read more »

Daniel Radcliffe news: Actor to play Weird AI Yankovic in Roku Original biopic

© Getty Images Daniel Radcliffe will be starring as Weird Al / Picture Credit: Warner Bros. Pictures, D. Dipasupil (2014) Today (January 18th, 2022), Roku announced that well-known and beloved Harry ... Read more »

North Macedonia and Bulgaria agree to work on issues blocking EU talks

© Reuters/OGNEN TEOFILOVSKI FILE PHOTO: Workers add a new decorative poster saying ‘EU with you’ on the windows of the offices of the European Union in Skopje SKOPJE (Reuters) – ... Read more »

Witness willing to testify she saw Prince Andrew with a ‘young girl' at London nightclub

© Provided by The Guardian Photograph: Hollie Adams/Getty Images A woman who may have seen Prince Andrew with Virginia Giuffre at a London nightclub 20 years ago is “willing” to ... Read more »

2023 Toyota Sequoia Will Arrive Soon

© Toyota After more than 10 years, it’s Toyota’s full-size SUV’s turn for a redesign, and it’ll likely borrow from the new Tundra including a hybrid V-6 engine. Toyota shared ... Read more »

BREAKING: Man arrested in connection with fatal assault of Ashling Murphy

A man has been arrested in connection with the fatal assault of Ashling Murphy. Ashling Murphy was laid to rest in County Offally on Tuesday morning. Ashling’s extended family took ... Read more »

Kate ‘underwhelmed' at chance to be on Josh Widdicombe's Parenting Hell podcast

Comic Josh Widdicombe has told how he has never seen someone look “more underwhelmed” in his life than when he asked the Duchess of Cambridge to appear on his parenting ... Read more »

Zaian Aimable-Lina: Youth centre to be named after Croydon stab victim

© PA Wire Ashburton Park stabbing A youth centre in Croydon is to be named after 15-year-old stab victim Zaian Aimable-Lina. Zaian died after suffering stab wounds at Ashburton Park ... Read more »

Prince Andrew scandal results in track renaming the Duke of York Stakes

© Provided by The Guardian Photograph: Hugh Routledge/Rex/Shutterstock Prince Andrew has plenty on his mind but the latest ignominy following the Virginia Giuffre scandal will not be missed by his ... Read more »

Denzel Washington Gets A Surprise From Adorable 91-Year-Old Grandmother From 2017 Viral Video

Denzel Washington had quite the surprise on Monday’s “Jimmy Kimmel Live!” Kimmel showed a resurfaced 2017 viral clip of the actor meeting a bunch of people in Chicago, including Juanita ... Read more »

Man who killed children's author Helen Bailey in 2016 was charged with murdering his first wife six years earlier after scientists re-examined brain she donated to science by 'stroke of fortune', court hears

Ian Stewart, 61, accused of killing Diane Stewart, 47, in Cambridgeshire in 2010Six years earlier he murdered his fiancée, the children's author Helen BaileyMrs Stewart's death blamed on epilepsy but was reexamined after Ms Bailey diedShe had donated her brain to science but the rest of her body was crematedBrain tissue showed signs of being starved of oxygen just before death, jury told  Read more »

EXCLUSIVE - Revealed: Dan Walker's Strictly dance partner Nadiya Bychkova has split from her fiancé, father of her daughter, 5

Dan Walker’s Strictly dance partner Nadiya Bychkova has split from her fiancé, MailOnline can reveal. Nadiya, 32, is single after ending her engagement to Slovenian footballer Matija Škarabot, the father ... Read more »

Reunited and it feels so good! Simon Cowell and David Walliams hold hands while Amanda Holden gives him a shoulder squeeze at BGT auditions

Simon Cowell and David Walliams looked delighted to be reunited on the red carpet during Britain’s Got Talent auditions at the London Palladium on Monday. The music mogul, 62, smiled ... Read more »

Accountant who posted 'loud and proud' photo on LinkedIn showing her heavily-tattooed arms next to a profile picture of her in normal office attire divides opinion - with some saying body art looks 'unprofessional'

Jessica Leonard, a public accountant from Cleveland, Ohio, had new professional bio photos taken by her employer, Evolution Capital PartnersOne of the photos saw her in office attire but showing off her heavily tattooed arms - which include a Harry Potter etching and a tribute to her late nephew After asking her boss whether she should share the image on LinkedIn, she was told that she should be 'loud and proud' about her body art Revealed that she's previously had to 'wear long sleeves in the heat of summer' because she feared the tattoos would 'close professional doors'The post quickly went viral, with more than 31,000 now having seen it - with many thanking her for showing that senior leaders can be their authentic selves  Read more »

The 13 best self-tanners of 2022 for a sunless glow: Experts sound off

NY Post Whether you’re reading this in the winter and cringe every time you see your pale appearance in the mirror or you’re trying to achieve that perfect glow during ... Read more »

'Good news' - Phil Hay provides hugely welcome positive Leeds injury update

© Provided by Transfer Tavern Leeds United’s Adam Forshaw interacts with fans after arriving at Elland Road before the Swansea match, Aug 2019 Journalist Phil Hay has confirmed that Leeds ... Read more »

5 Memory-Boosting Tricks From a Jeopardy! Champ

© Illustration: Shutterstock.com Arthur Chu’s Memorization Tricks 1. Practise tasks in an environment that’s as similar to the real situation as possible. (If your goal is to be a contestant ... Read more »

Walsall individual receives significant praise

© Provided by Football League World League Two – Walsall v Leyton Orient Walsall head coach Matt Taylor has told Tom Leak to ‘keep pushing’ after the young defender made ... Read more »

Crypto billionaire Sam Bankman-Fried names 2 potential ethereum-killers as the next big blockchains: report

© FTX Sam Bankman-Fried. FTX Crypto billionaire Sam Bankman-Fried predicted the big blockchains of 2022. The FTX CEO’s picks were potential ethereum-killers solana and avalanche, Decrypt reported. Solana and avalanche ... Read more »

Brighton vs Chelsea prediction: How will Premier League fixture play out tonight?

© PA Wire Joachim Andersen scores an own goal (Gareth Fuller/PA) – PA Wire Chelsea look to get back on track at Brighton after coming unstuck against a dominant Man ... Read more »

Loyalität auf dem Tiefpunkt: Schweizer Firmen laufen die Top-Talente davon

Die Pandemie hat die Arbeitswelt auf den Kopf gestellt: Die Loyalität der Angestellten gegenüber ihren Arbeitgebern ist auf dem absoluten Tiefpunkt. Droht nun eine Kündigungswelle? © imago images/Westend61 Portrait of ... Read more »

Shocking video shows NYC school bus fatally striking 15-year-old

Shocking video captures the moment a 15-year-old girl is fatally mowed down by a school bus in Brooklyn this week. The 20-second clip, obtained by The Post Tuesday, shows the ... Read more »

David Beckham makes space to complete Luis Suarez transfer for Inter Miami

David Beckham and Inter Miami have received a boost ahead of a possible summer move for Luis Suarez. The Uruguayan is on the radar of the MLS side with his ... Read more »

Conte calls decision to accept Arsenal's request 'strange'

Tottenham manager Antonio Conte expressed his surprise at the north London derby being called off last weekend as he labelled the Premier League‘s decision ‘strange’. Top-flight officials accepted the Gunners ... Read more »

Abu Dhabi: Why drone attacks in UAE could mark a dangerous turning point

A deadly drone attack in the heart of the United Arab Emirates’ capital has thrust the Middle East into uncharted waters at a time when the region’s leaders have sought ... Read more »

Blinken to travel to Ukraine and Germany this week

Secretary of State Antony Blinken will travel to Ukraine and Germany this week as the Russian threat toward Ukraine continues to loom. © Gints Ivuskans/AFP/Getty Images U.S. State Secretary Antony ... Read more »

Oklahoma City hospitals are at breaking point, health care system leaders say

Oklahoma City hospitals are short of staff and overwhelmed, with no ICU or inpatient beds available as the Omicron variant causes a surge of Covid-19 patients, according to an open ... Read more »

Sanders calls out Manchin, Sinema ahead of Senate election bill debate

Sen. Bernie Sanders slammed Sens. Joe Manchin and Kyrsten Sinema. AP Photo/Jacquelyn Martin, File Sen. Bernie Sanders slammed fellow Sens. Joe Manchin (D-WV) and Kyrsten Sinema (D-Ariz.) on Monday as ... Read more »

Biggest omissions and surprise selections from England's Six Nations squad announcement

England will embark on another Six Nations quest with new faces among their fellowship, while a sea of established stars have been left by the wayside. Eddie Jones named his ... Read more »

Operational problems curb Suncor Energy oil production

WINNIPEG, Manitoba (Reuters) – Two operational problems at Suncor Energy Canadian oil sands sites last month resulted in lower crude production, the company said on Tuesday, marking its latest such ... Read more »

EXPLAINER: 5G and air travel

The airline industry is raising the stakes in a showdown with AT&T and Verizon over plans to launch new 5G wireless service this week, warning that thousands of flights could ... Read more »

'Bismarck on fire before we torpedoed her': Royal Navy seaman's 1941 letter to his mother four days after sinking Germany's most feared battleship

Lieutenant Aubrey Hollick served on the heavy cruiser HMS Dorsetshire which helped to sink the BismarckFamous ship sank in May 1941 after it was pummelled with 3,000 shells, leading to loss of 2,200 livesLieutenant Hollick wrote letter to his mother afterwards and sketched ship's final moments  Read more »

I'm a home security expert & people always forget my advice – it could cost you your most valuable possession

LOCKSMITHS are urging car owners to be more vigilant where they put their valuables, as more people wake up to find their keys missing. In an exclusive interview with the ... Read more »

OAP, 74, charged with killing five-month-old baby boy Louis after car crashed into mum pushing son in pram

AN OAP has been ordered to attend court over the death of a five-month-old baby boy after a car crashed into a mum and her son. Shelagh Robertson, 74, was ... Read more »

Dwayne ‘The Rock' Johnson turns heads with ‘badass' T-rex skull on Manningcast

The “Manningcast” finale had no shortage of curious moments. Dwayne “The Rock” Johnson joined Peyton and Eli Manning on the Monday Night Football broadcast during the NFC Wild Card matchup ... Read more »

Smells like family drama! Guerlain perfume heir, 61, is locked in a battle with girlfriend, 63, of his Alzheimer's-stricken father, 81, who accuses him of cutting off the heating and leaving them to survive on 120 euros a week

Jean-Paul Guerlain, 81, of the perfume house is at the centre of family drama His partner Christina Kragh, 63, has accused his son of violence and harassmentJean-Paul's son Stéphane Guerlain, 61, categorically rejected all allegations  Stéphane is his father's legal guardian and previously stopped the pair marrying Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic