Full Title: Renewable Energy Market Update: Outlook for 2021 and 2022
Author(s): International Energy Agency (IEA)
Publisher(s): International Energy Agency (IEA)
Publication Date: May 14, 2021
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Renewables were the only energy source for which demand increased in 2020 despite the pandemic, while consumption of all other fuels declined. Will renewable energy source uptake therefore expand more quickly as the global economy recovers from the crisis? In exploring recent market and policy developments, the Renewable Energy Market Update forecasts new global renewable power capacity additions for 2021 and 2022. It also provides updated biofuel production forecasts for these years, as the sector suffered significant losses with declining transport demand during the pandemic.