Renewable electricity generation to exceed average annual growth rate of 2015-2020

Oil&Gas Materials 1 December 2021 17:19 (UTC +04:00)
Renewable electricity generation to exceed average annual growth rate of 2015-2020

BAKU, Azerbaijan, Dec.1

By Leman Zeynalova – Trend:

In 2021 renewable electricity generation is forecast to increase year-on-year by 6 percent and reach over 7 900 TWh, slightly higher than the average annual growth rate observed during 2015-2020, Trend reports with reference to the International Energy Agency (IEA).

“Conversely, the expansion rate of cumulative capacity in 2021 is faster over the same time period. This decoupling is mainly due to weather conditions in key markets affecting wind and hydropower generation. Without these conditions, renewable electricity generation would be up by almost 9 percent in 2021 compared with 2020. Severe drought conditions in Brazil, the United States, China and Turkey have limited global hydropower generation,” reads the IEA report.

As a result, IEA forecast expects hydropower generation to remain stable compared with 2020, ending the annual increases seen since 2001.

“Wind electricity generation is expected to increase by 14 percent, or almost 220 TWh, worldwide in 2021; however, geographical variations due to adverse weather conditions prevent much faster annual growth. The European Union is set to see wind generation decline by 3% due to low wind conditions. This is the first annual decline in more than three decades, compared with 10 percent (or 30 TWh) average growth per year between 2015-20. Strong capacity growth and normal wind conditions in Brazil, China, India and the United States make up for slowing growth in other key markets,” the report says.


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