Almost 165GW of new renewable power was installed in 2016, driven by 74GW of solar photovoltaic capacity coming online, according to a new report by the International Energy Agency (IEA).
IEA said in its ‘Renewables 2017′ report that China accounted for half of the solar growth, which increased by 50% last year.
The agency added that it expects more than 920GW of clean power to be installed by 2022, an increase of 43%.
It said solar will account for the largest annual capacity additions for renewables over the next five years, above both wind and hydro.
The US is the second largest market for renewables, but there is uncertainty in the future over federal tax reforms, international trade and energy policy, the report said.
India is expected to more than double its current renewables capacity by 2022, IEA said.
The picture in the EU is more challenging. “Overall, weaker electricity demand, overcapacity and limited visibility on forthcoming auction capacity volumes in some markets remain challenges to renewable growth. Policy uncertainty beyond 2020 remains high,” IEA said.
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