Renewable Energy Market Update

Renewables were the only energy source that managed to shrug off the pandemic and see increased demand in 2020, while consumption of all other fuels declined. Will renewable energies therefore expand even more quickly as the global economy recovers from the crisis?

Based on recent market and policy developments, the Renewable Energy Market Update forecasts global additions to renewable power capacity for 2021 and 2022. It also updates biofuel production forecasts for these years, a sector that suffered significant losses from slumping transport demand during the pandemic.