Renewable energy to grow to new record in 2022: IEA – Times of India

PARIS: The world will set a brand new file for renewable power capability this 12 months led by solar energy in China and Europe, however progress might lose steam in 2023, the Worldwide Power Company mentioned Wednesday.
A file 295 gigawatts of latest renewable energy capability was added in 2021 regardless of provide chain bottlenecks, development delays and excessive costs of uncooked supplies, the IEA mentioned in a report.
An extra 320 gigawatts is anticipated to be put in this 12 months, equal to all the electrical energy demand of Germany or the European Union’s complete electrical energy technology from pure fuel.
Photo voltaic vitality will account for 60 p.c of renewable power growth in 2022, forward of wind and hydropower, in line with the company, which advises developed nations on vitality coverage.
“The extra renewables capability commissioned for 2022 and 2023 has the potential to considerably scale back the European Union’s dependence on Russian fuel within the energy sector,” the IEA mentioned.
“Nevertheless, the precise contribution will rely upon the success of parallel vitality effectivity measures to maintain the area’s vitality demand in verify.”
The EU set a purpose of slashing its heavy reliance on Russian pure fuel by two thirds this 12 months following Moscow’s invasion of Ukraine.
“Power market developments in current months — particularly in Europe — have confirmed as soon as once more the important position of renewables in enhancing vitality safety, along with their well-established effectiveness at lowering emissions,” IEA Government Director Fatih Birol mentioned in a press release.
He urged governments to chop pink tape, speed up the deliveries of permits and supply the suitable incentives for a sooner deployment of renewables.
The IEA warned that, primarily based on present insurance policies, “renewable energy’s world progress is ready to lose momentum subsequent 12 months.”
“Within the absence of stronger insurance policies, the quantity of renewable energy capability added worldwide is anticipated to plateau in 2023,” the IEA mentioned.
The Paris-based IEA mentioned progress in photo voltaic vitality is offset by a 40 p.c drop in hydropower enlargement and “little change” in wind additions.

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