While global renewable energy production capacity is expected to increase by 50% between 2019 and 2024, China is expected to outperform the European Union to become the world leader in solar photovoltaic energy in terms of installed capacity as early as 2021, according to a new report by the International Energy Agency (IEA), published on Monday 21 October.
According to the report, although the growing climate ambitions of the European Union and the United States have played a major role in improving the growth forecasts for the renewable energy sector carried out by the IEA, it is China that will lead the way in the deployment of wind and solar energy projects. Thus, by 2021, nearly half of the world's growth in distributed photovoltaic energy is expected to come from China.
In addition, the growth of solar photovoltaic energy is expected to account for 60% of the increase in renewable energy production between 2019 and 2024, making photovoltaics "the single largest source of additional expansion potential", ahead of onshore wind energy and hydroelectric power.
Finally, the report indicates that these developments should lead to an increase in the share of renewable energies in global electricity production from 26% today to 30% in 2024.
To download the report: https://bit.ly/32AJf3x (Original version in French by Damien Genicot)