According to the International Energy Agency’s latest renewables market analysis and forecast, new solar PV capacity grew by 50% last year, with China accounting for almost half of the global expansion.
For the first time, solar PV additions rose faster than any other fuel, surpassing the net growth in coal.
Boosted by a strong solar PV market, renewables accounted for almost two-thirds of net new power capacity around the world last year, with almost 165 gigawatts (GW) coming online according to the new report ‘Renewables 2017.’
Renewables will continue to have a strong growth in coming years.
By 2022, renewable electricity capacity should increase by 43%.
Source: International Energy Agency