IEA Special Report: Renewable electricity growth is accelerating faster than ever worldwide, supporting the emergence of the new global energy economy

The growth of the world’s capacity to generate electricity from solar panels, wind turbines and other renewable technologies is on course to accelerate over the coming years.

By 2026, global renewable electricity capacity is forecast to rise more than 60% from 2020 levels to over 4 800 GW – equivalent to the current total global power capacity of fossil fuels and nuclear combined. Renewables are set to account for almost 95% of the increase in global power capacity through 2026, with solar PV alone providing more than half. The amount of renewable capacity added over the period of 2021 to 2026 is expected to be 50% higher than from 2015 to 2020. This is driven by stronger support from government policies and more ambitious clean energy goals announced before and during the COP26 Climate Change Conference.

https://www.iea.org/news/renewable-electricity-growth-is-accelerating-faster-than-ever-worldwide-supporting-the-emergence-of-the-new-global-energy-economy

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Skyrocketing energy, carbon prices already make green hydrogen competitive

Antonio Delgado Rigal, chief executive of energy forecasting service AleaSoft, tells pv magazine that skyrocketing gas and electricity prices are putting the global economy under strong pressure, while also opening up huge opportunities for solar, renewables and green hydrogen. He says current gas and electricity prices, along with rising CO2 prices, already make green hydrogen competitive. He therefore calls for immediate action on building new capacity, but acknowledges that a quick end is not yet in sight for rising prices.

Skyrocketing energy, carbon prices already make green hydrogen competitive – pv magazine International (pv-magazine.com)

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