A new report from the International Energy Agency (IEA) shows that renewable power capacity additions are set to rise by a third globally this year, with wind and solar photovoltaic (PV) leading the way.
Prompted by the worldwide energy crisis, it will be the largest yearly increase ever.
According to the report, concerns about energy security and increased fossil fuel prices have driven strong wind power and solar PV deployment.
“Solar and wind are leading the rapid expansion of the new global energy economy. This year, the world is set to add a record-breaking amount of renewables to electricity systems – more than the total power capacity of Germany and Spain combined,” said IEA Executive Director Fatih Birol in a press release from the IEA.
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