Global Finance IEA： The installed capacity of global renewable energy will continue to grow strongly.

Xinhua Finance & Economics, Paris, October 7 (Reporter Luo Yu) The report "Renewable Energy in 2025" released by the International Energy Agency on the 7 th predicts that despite the unfavorable factors such as supply chain and capital pressure, power grid integration challenges and policy uncertainty, the installed capacity of global renewable energy will still grow strongly, and it is expected that the newly added installed capacity of global renewable energy will double that of the previous five years in the next five years.

The report predicts that from 2025 to 2030, the global installed capacity of renewable energy will increase by 4,600 GW, which is roughly equivalent to the total installed capacity of China, the European Union and Japan.

The report shows that in the next five years, the global renewable energy growth will be mainly driven by the solar photovoltaic industry. Thanks to the low cost and the accelerated approval process, the growth of solar photovoltaic power generation is expected to account for about 80% of the global renewable energy installed capacity growth. It is estimated that wind power will take the second place in the installed capacity of newly-added renewable energy. Despite the short-term challenges, with the easing of supply bottlenecks and the promotion of projects, wind power will still grow substantially, especially in China, Europe and India. In addition, hydropower and other renewable energy technologies such as bioenergy and geothermal energy will continue to play an important role in supporting power systems and improving flexibility.

The report said that in emerging economies in Asia, the Middle East and Africa, cost competitiveness and stronger policy support are stimulating faster growth of renewable energy, and many governments have successively launched new bidding plans and raised development goals.

Fatih Birol, Director of the International Energy Agency, said in a communique that in the next five years, in addition to mature markets, solar photovoltaic power generation is expected to grow rapidly in Saudi Arabia, Pakistan and several Southeast Asian countries. With the increasing role of renewable energy in power systems in many countries, policy makers should pay close attention to challenges such as supply chain security and power grid integration.

Editor: Luo Hao

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