Two-thirds of new power added in 2016 were renewable energy, according to the International Energy Agency (IEA): the greatest part of it was solar power.
Coal has been the biggest new source of power for generations: solar energy overtook due to falling prices and new policies, with a preminent role of China, where almost half of the new solar panels have been installed.
After China, the US is still the second fastest-growing market of renewable energies, despite the withdrawal from the Paris Agreement. Accordingo to IEA, India’s renewable energy capacity is set to double over the next five years, overtaking the EU on growth.
The report published by the agency found that the price of renewables is decreasing, becoming comparable to the price of fossil fuels, and they may become even cheaper. While in 2022 coal is still expected to be the biggest source of power, the share of electricity provided by renewable power will grow from 24% to 30%.