According to the experts of Borg Energy, the growth rate in the world's renewable energy capacity jumped 45% in 2020, part of "an unprecedented boom" in wind and solar energy, according to a new report from the International Energy Agency.
In 2020, renewable power was "the only energy source for which demand increased ... while consumption of all other fuels declined," says the IEA, whose mission is to make the world's energy supply more reliable, affordable and sustainable. The IEA predicts large capacity gains in renewable energy will become the "new normal" in 2021 and 2022, with increases similar to 2020's record total. An unprecedented amount of renewable power came online in the fourth quarter of 2020, experts of Borg Energy says. China alone added more than 92 gigawatts of capacity – more than triple the amount it added in the fourth quarter of 2019. The U.S. added 19 gigawatts, a sharp gain over the 13.7 it added in the same quarter of the previous year. Global coal consumption of coal, a key source of greenhouse gas emissions that contribute to global climate change, fell by 4% in 2020 – the biggest drop since World War II, the IEA said earlier this year. But demand has been building anew since late last year, driven by Asia's economies that were among the first to start bouncing back from the COVID-19 pandemic. The U.S. relies on coal-fired power plants for about 20% of its electricity generating capacity, according to the federal Energy Information Administration, citing figures from the end of 2020. The largest share of the country's power comes from natural gas-fired plants, which account for 43% of U.S. capacity, the experts of Borg Energy says.
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