Renewables will dominate new energy capacity by 2026, says IEA

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As renewable energy ​​should account for almost 95% of the increase in energy capacity in the world by 2026, reported a report by the International Energy Agency (IEA) on Wednesday (1), with the solar energy providing more than half the increment.

The milestone comes despite rising costs of materials used in the manufacture of solar panels and wind turbines.

New renewable energy capacity this year will hit a second consecutive record in 2021, said the energy agency based in Paris in its annual report on the renewable energy market.

“This year’s record renewable electricity additions of 290 gigawatts are yet another sign that a new global energy economy is emerging,” said IEA Executive Director Fatih Birol.

“The high prices of commodities and the energy we see today represent new challenges for the renewable energy industry, but the high prices of fossil fuels also make renewable energy ​​even more competitive, he says.

Renewable electricity capacity by 2026 will be equal to current total global energy capacity from fossil fuels and energia nuclear together, added the IEA.

Stronger government policies and climate goals, promoted by pledges at the conference COP26 in Glasgow last month, they are driving the increases, but the pace of growth in renewable energy ​​needs to accelerate to limit the temperature rises, the IEA said.

China leads the world in new capacity and is four years ahead of its own wind and solar infrastructure targets, while India will double new installations from 2015-2020.

“China continues to demonstrate its strengths in terms of clean energy, with the expansion of renewable energy ​​suggesting that the country could reach a peak in its CO emissions2 well before 2030,” said Birol.

Still, the IEA warned that over the next five years, average annual additions of solar and wind capacity would need to nearly double from the agency’s current forecasts to achieve net zero emissions by 2050, while annual demand growth for biofuels would need to quadruple.

Reference: CNN Brasil

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