The renewable energy sector is set to expand by more than 8% in 2021, according to new data from the International Renewable Energy Agency (IRENA).
This growth is being driven by a range of factors, including declining costs, increasing investment, and favorable policy environments. hydropower, solar, wind, and other renewable sources are expected to see strong growth in the coming year.
These expansion trends underscore the increasing role that renewable energy is playing in the global electricity mix.
In 2021, renewable electricity accounts for almost 30% of global power generation.
This is up from just over 20% in 2020.
The expansion of renewable electricity generation is good news for the fight against climate change. It means that emissions from the power sector are set to decline by around 2% this year.
This is a significant decrease, and it underscores the importance of transitioning to renewable energy sources. IRENA's data provides valuable insights into the current trends in renewable energy.
These trends show that renewable energy is becoming increasingly important in meeting our global electricity needs.
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