Published on April 3, 2019 |
by Joshua S Hill
3. April 2019 by Joshua S Hill
Renewable energy sources now account for about one third of the world's total electricity capacity according to new figures published this week by the International Renewable Energy Agency, which revealed that 171 gigawatts ( GW of new renewable capacity was installed in 2018.
The International Renewable Energy Agency (IRENA) published its annual Renewable Capacity Statistics 2019 report Tuesday the most comprehensive, up-to-date and available figures on renewable energy capacity that revealed renewed growth they energy in all regions across the globe, but at different levels. In total, 171 GW new renewable energy capacity was added in 2018, an annual increase of 7.9%, driven primarily by new wind and solar capacity surcharges.
But while Asia accounted for 61% of the total new renewable energy plants, its regional installed capacity is growing by 11.4%, in fact the Oceanic region experienced the fastest growth rate and increased its capacity by 17.7%. . Africa came in third with 8.4%.
This gives the total renewable energy production capacity up to 2,351 GW at the end of 2018, accounting for about one third of the world's total installed electricity capacity. Hydropower remains the largest renewable energy source based on installed capacity of 1,172 GW, followed by wind power with 564 GW and 480 GW solar energy.
Especially solar power dominated in 2018 and installed impressive 94 GW (as opposed to various 2018 solar installation figures that have been reported over the coming months of 2018). Asia continued to lead the way with 64 GW – representing about 70% of global expansion last year – thanks to dominant performances from China, India, Japan and South Korea. However, other countries saw impressive growth, including the US with 8.4 GW in 2018, Australia with 3.8 GW and Germany with 3.6 GW.
Wind power was the second largest new renewable energy source last year and added 49 GW led by China and the US, which installed 20 GW and 7 GW respectively.
However, hydropower, bioenergy and geothermal energy rose again to varying degrees of success.
"Through its compelling business meeting, renewable energy has established itself as the chosen technology for new power generation capacity," said IRENA Director General Adnan Z. Amin. "The strong growth in 2018 continues the remarkable trend over the past five years, reflecting an ongoing shift towards renewable energy as a driver of global energy transformation.
" Renewable energy recovery needs to grow even faster to ensure we can reach global climate goals and sustainable development goals. Countries that fully exploit their renewable energy potential will benefit from a wide range of socio-economic benefits, in addition to calling on their economies. "