Renewable capacity surged by more than 15% last year

Global renewable energy capacity surged by more than 15.5% last year as countries looked to strengthen their resilience against international shocks.

The latest report by the International Renewable Energy Agency also found renewable energy dominated the total generation capacity expansion with a share of more than 85%.

The agency said that as renewables are homegrown, low-cost and can be deployed immediately, increasing their share in national energy systems can reduce exposure to international fuel markets.

Director-General Francesco La Camera said: “A more decentralised energy system, with a growing share of renewables and more market players, is structurally more resilient. Countries that invested in the energy transition are weathering this crisis with less economic damage, as they boost energy security, resilience and competitiveness.”

In line with the previous year, solar energy led the increase with 75% of new renewables capacity followed by wind.