Global renewable capacity growth set to hit record again in 2022 - IEA

The growth of new capacities based on renewable energy sources (RES) in 2022 in the world will again become a record, PRIME reports with reference to the report of the International Energy Agency (IEA).

“Renewable energy will break another world record in 2022 despite headwinds from high costs and supply chain challenges,” the agency wrote.

According to the IEA, in 2021, the global increase in new capacity based on renewable energy was 295 GW, which was a record figure. “Global capacity expansion is expected to be 320 GW this year, equivalent to close to meeting all of Germany’s electricity demand, or in line with the European Union’s total electricity generation from natural gas,” the report notes.

At the same time, the IEA notes that the current increase in new capacity would be even faster if it were not for problems with supply chains. In particular, the cost of installing solar panels and building wind farms in 2022 and 2023 will remain higher than before the pandemic.

“While energy markets face a wide range of uncertainties, the increased focus of governments on energy security and affordability, especially in Europe, is giving new impetus to efforts to accelerate the implementation of energy efficiency solutions and renewable energy technologies,” the IEA also writes.