Renewables see record growth

Multinational

PARIS, November 10, 2020 – Global renewables installations are seeing record growth in 2020 despite the setbacks of the Covid-19 pandemic, according to a report published by the International Energy Agency on Tuesday.

The agency projects that almost 90% of new electricity generation in 2020 will be from renewable sources. The remaining 10% will come from gas and coal.

The IEA report also examined stock market performance, noting that share value in solar companies has more than doubled since December 2019.

The report further references Joe Biden’s 2020 US presidential election win, suggesting that the new administration could accelerate the installation of renewables in one of the world’s largest markets.

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