• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 25 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 4 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 24 mins NordStream2
  • 2 days Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 6 hours Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 6 hours US intel warns China could dominate advanced technologies By NOMAAN MERCHANT October 22, 2021
  • 2 days "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 2 days Storage of gas cylinders

IEA: The Renewable Energy Boom Will Restart In 2021

The renewable energy industry will see a decline in growth this year but will recover and start growing again next year, the International Energy Agency has said in a new report.

This year would be the first in two decades when new solar and wind power capacity additions will see a dip, the IEA said, noting that so far, the industry has demonstrated strong resilience to the consequences of the pandemic.

Even so, many projects will be delayed, leading to 13 percent fewer solar and wind power capacity additions this year, compared with 2019. In 2021, however, total new renewable energy additions will recover to 2019 levels, not least because of two large-scale hydropower projects set to come online in 2021. 

This means that solar and wind will see slower growth for new additions than previously expected by the authority, and by as much as 10 percent.

However, this should not be cause for worry as previous forecasts were invariably upbeat, leaning on continued government support for renewable energy. None of the forecasts could anticipate the coronavirus pandemic and the extent of its impact on the world.

“The resilience of renewable electricity to the impacts of the Covid-19 crisis is good news but cannot be taken for granted,” the head of IEA, Fatih Bitol, said.

 “Countries are continuing to build new wind turbines and solar plants, but at a much slower pace. Even before the Covid-19 pandemic struck, the world needed to significantly accelerate the deployment of renewables to have a chance of meeting its energy and climate goals. Amid today’s extraordinary health and economic challenges, governments must not lose sight of the essential task of stepping up clean energy transitions to enable us to emerge from the crisis on a secure and sustainable path,” he added.

Meanwhile, another report has warned that solar and wind power companies face another challenge: declining revenues. This trend could compromise the long-term prospects of some projects, the authors noted.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Arthur Bhutic on May 20 2020 said:
    In Large Metro Areas:

    Clean coal must boom! Must be constr of clean coal plants! By that, Co2 is eliminated!

    Their too, must be Co2 Scrubber Booms on dirty coal plants! By that, the Co2 is collected to be a boon to enhance oil wells, put out fires, inject into planted trees in the West Indies and Central and South America, and to be shipped of to Mars, Jupiter, and Saturn for animals, humans, and plants to live there!

    In addition, be a boon of injecting aerosols into dirty coal! Then the coal plant burning the dirty coal emits aerosols into the atmosphere to be the new erupting volcanoes to kill global warming for good and to bring in global freezing! Then, theirs frost in the mountains of Nicaragua just like in the mountains of Alabama!

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News