FAN - Wind solar surged in 2020 but world not on track for climate goals BP says

Wind and solar power capacity expanded rapidly in 2020 and was "relatively unscathed" despite the plunge in global energy demand caused by COVID-19, [[BP]] says in its annual Statistical Review of World Energy.Last year's economic slowdown as countries sought to contain the pandemic led to a 4.5% drop in global energy demand, including a 9.3% plunge in oil consumption, and carbon emissions sank 6.3% - its biggest decline since World War II - Spencer Dale, chief economist at BP, says in the report."There is a good chance that much of [the] dip proves transitory," Dale says, as changes in 2020 were a byproduct of the pandemic and the world still needs "tangible, concrete differences" to meet climate targets.Wind (FAN) and solar (TAN) installed capacity increased by a "colossal" 238 GW last year, largely at the expense of coal-fired generation, whose 4.4% drop was one of its largest annual declines on

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Wind, solar surged in 2020 but world not on track for climate goals, BP says