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International Energy Agency: New renewable energy installed capacity will drop by 13% to 167GW in 2020

2020-05-21

Recently, the International Energy Agency (IEA) data shows that due to the impact of the new coronary pneumonia epidemic, the new renewable energy installed capacity in 2020 will drop by 13% to 167GW.

The International Energy Agency ’s “Renewable Energy Market” report said the projected decline reflected that construction activities may be delayed due to supply chain disruptions, blockade measures and social alienation guidelines, as well as emerging financing challenges.

However, the report said that the cumulative installed capacity of global renewable energy will increase by 6% in 2020.

The agency added that with most delayed projects going into operation, and assuming that the government continues to implement supportive policies, it is expected that the new installed capacity will resume growth by 2021.
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