Wind and solar energy capacity increased by a 238GW in 2020, 50% larger than at any time in history, according to a new report from BP.
The 2021 ‘BP Statistical Review of World Energy’ report said that wind, solar and hydroelectricity generation all grew last year, despite an overall fall in energy demand.
Solar capacity expanded by 127GW, while wind grew 111GW, which is almost double its previous highest annual increase, the report said.
China was the largest contributor to renewables growth, followed by the US.
The share of renewables in power generation increased to 11.7% from 10.3%, while coal’s share fell 1.3 percentage points to 35.1% – a new low in BP’s data series.
BP chief economist Spencer Dale (pictured) said: “For the Review – as for so many of us – 2020 will go down as one of the most surprising and challenging years in its life.
“The global lockdowns had a dramatic impact on energy markets, particularly on oil, whose transport-related demand was crushed.
“Encouragingly, 2020 was also the year the share of renewables in global power generation recorded its fastest ever increase – a growth that came largely at the expense of coal-fired generation.
“These trends are exactly what the world needs to see as it transitions to net zero – strong growth in renewables crowding out coal.
“The importance of the past 70 years pales into insignificance as we consider the challenges facing the energy system over the next 10, 20, 30 years.
“To reach net zero, the level of ambition shown by countries and companies needs to translate into significant, sustained falls in emissions.
“Everyone, from business to governments to consumers, has a role to play in delivering that.”