Global renewable power to grow by 43% by 2022

Global renewable power capacity is forecast to increase by 43% in the next five years. That means a growth of around 1,000GW – equivalent to around half of the current […]

By Priyanka Shrestha

Global renewable power capacity is forecast to increase by 43% in the next five years.

That means a growth of around 1,000GW – equivalent to around half of the current global capacity in coal power, according to the International Energy Agency (IEA).

By 2022, renewable energy is forecast to account for 30% of power generation – up from 24% last year, with the growth twice as large as that of gas and coal combined.

Though coal remains the largest source of power generation during that period, green power is expected to close the gap in just five years.

Last year, solar capacity grew faster than any other source at 50%, with China accounting for almost half of the global expansion.

Renewables accounted for almost two-thirds of new power capacity globally, with almost 165GW coming online.

Power usage of electric vehicles (EVs) is expected to double over the next five years, with renewable electricity estimated to represent almost 30% of their consumption by 2022, up from 26% today.