Solar PV grew faster than any other fuel in 2016: IEA

Oct 06, 2017, 00:21
Solar PV grew faster than any other fuel in 2016: IEA

The International Energy Agency, a Paris-based policy advisory organization also known as the IEA, found that renewables accounted for nearly two-thirds of new power capacity a year ago.

The IEA said coal will still be the largest source of electricity generation in 2022, though "renewables close the generation gap with coal by half in just five years".

"Renewables may well become even cheaper than fossil fuel alternatives over the next five years", Frankl said.

Renewables contributed to approximately 66 percent of total power capacity in 2016. By the end of 2016, China had increased its solar PV capacity by almost 800 times, with more than 77 gigawatts now installed. This figure, IEA said, was equivalent to the power consumption of China, India and Germany combined.

WASHINGTON -Just how fast is the USA clean energy revolution unfolding? Meanwhile, renewable energy grew to 14% of the total USA electricity sales in 2016, with wind and solar accounting for 8% and hydropower and geothermal account for 6%. Grid integration remains a key challenge for China, the IEA added. One bidder offered Rs 2.83 per unit in Solar Energy Corporation of India's second auction of wind projects that started on Wednesday afternoon.

Put simply: The world is now building more solar than coal generation, a trend that looks to continue, regardless of any uncertainty in current American energy policy.

India's eye-catching growth is spurred by the National Solar Mission, which has targeted a goal of 100 GW of solar by 2022.

The country's renewable energy installed capacity is 58.30 GW as per the recent government data.

"When you look at how clean energy development has exploded beyond official government projections from just 10 years ago, it offers hope that its potential will continue to far surpass expectations and we'll meet our USA climate goals", she said.

"Our expectation is that (growth in) renewable electricity generation in the next five years will be higher than electricity generation from coal and natural gas times two", IEA executive director Fatih Birol told journalists.

The Renewables 2017 report takes a deep dive into renewable energy deployment across all industries and throughout the world, but the dominance of solar PV stands out. As well as pulling the United States out of the Paris climate accord, President Donald Trump has threatened to impose tariffs on Chinese solar panel exporters, who are accused of undercutting American manufacturers.

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