Global renewable energy installations broke new records last year as the world added more than 260GW of new capacity.

That’s according to a new report by the International Renewable Energy Agency (IRENA), which estimates the growth exceeded renewables’ expansion in 2019 by almost 50%.

The findings of the report show more than 80% of all new electricity capacity added last year was renewable – of that solar and wind accounted for 91% of new renewables.

Total solar capacity has now reached about the same level as wind capacity thanks largely to expansion in Asia, an estimated 78GW, the report estimates.

The analysis suggests China and the US were the two outstanding growth markets for renewables last year, with Chinese renewable capacity adding an estimated 136GW.

The US added nearly 80% more renewable capacity than in 2019.

IRENA Director-General Francesco La Camera said: “These numbers tell a remarkable story of resilience and hope. Despite the challenges and the uncertainty of 2020, renewable energy emerged as a source of undeniable optimism for a better, more equitable, resilient, clean and just future.

“Despite the difficult period, as we predicted, 2020 marks the start of the decade of renewables.”