The Paris Agreement, which was signed and adopted by 196 parties at COP 21 on December 12, 2015, was drafted to limit the impact of climate change. Since then, it has expedited the growth of the renewable energy sector worldwide. According to Our World in Data, renewable energy accounted for approximately 11 percent of the global energy mix as of 2019. Here are three other interesting facts concerning renewable energy.
Hydropower Accounts for Most of the World's Renewable Energy Generation
As of December 2020, hydropower accounted for 43 percent of global renewable energy generation with a total capacity of 1,211 gigawatts (GW). Major projects in Turkey and China added a combined 14.6 GW of the 20 total GW of capacity added worldwide in 2020.
The most notable project is the Wudongde hydropower plant in the mountains of China's Yunnan province downstream from the Jinsha River. The second of two hydropower sites is expected to be operational by the end of 2021, at which point the mega project will generate more electricity than all the power plants in the Philippines combined.
Solar is the Fastest-Growing Renewable Source of Energy
While hydropower has always been the most prominent source of renewable energy generation, its recent growth does not compare to solar and wind, both of which now account for 26 percent each of global renewable generation capacity. Solar capacity increased by 127 GW in 2020, while wind increased by 111 GW. Asia accounted for 78 GW of installed solar capacity, while the United States added 14.9 GW. Germany, Australia, Brazil, and the Netherlands all added over 3 GW.
International Renewable Energy Agency Director-General Franceso La Camera touted these figures as an impressive accomplishment considering the economic challenges due to the COVID-19 pandemic. “Despite the difficult period, as we predicted, 2020 marks the start of the decade of renewables,” he said. "Costs are falling, clean tech markets are growing and never before have the benefits of the energy transition been so clear.”
Asia Leading the Way in Renewable Generation Capacity
Led by China, Asia accounts for almost half of the global share of renewable energy generation. The continent had a capacity of 1,286 GW by December 2020, which represented 46 percent of the global share. Europe and North America ranked second and third with 609 GW and 422 GW of capacity, respectively.
The United States led North American countries in renewable energy generation capacity and new installations in 2020 with key projects such as the North Central wind farms in Oklahoma and the Coastal Virginia Offshore Wind pilot.