MAXN - Renewable energy on track for record year but may not be enough - IEA

The IEA is out with its latest Renewables Market Report, which forecasts the planet's renewable electricity capacity will jump to more than 4,800 GW by the year 2026, an increase of over 60% compared to levels in 2020. Note that capacity here represents the maximum amount of energy that installations can produce, not what they will necessarily generate. Renewables are even expected to account for almost 95% of the increase in global power capacity through 2026 despite the pandemic and surging inflation seen acorss the globe. Quote: "We have revised up our forecast from a year earlier as stronger policy support and ambitious climate targets announced for COP26 outweigh the current record commodity prices that have increased the costs of building new wind and solar PV installations." Nearly 290GW of new renewable energy generation capacity has been installed around the world in 2020, and based on current trends, renewable energy generating

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Renewable energy on track for record year, but may not be enough - IEA