Global renewable capacity surges 4.7% in 2021 as countries focus on clean energy projects
Global renewable energy capacity jumped 4.7 per cent in 2021, as countries focus on reducing emissions to protect the environment.
The total installed renewable capacity reached 227 gigawatts this year, mainly driven by residential solar and offshore wind projects, according to a report from Rystad Energy.
“The renewable energy industry is facing some of its most significant challenges yet over the short term, but the future has never looked brighter with new and aggressive commitments from governments and companies alike,” Gero Farruggio, head of renewables research with Rystad Energy, said.
“The carbon-neutral pledges set forth at the Cop26 climate conference in Glasgow this year will help spur major growth in the coming years.”
A number of countries have pledged to become carbon neutral in the coming decades, including the UAE, Saudi Arabia, the Arab world’s largest economy, and Bahrain.
The UAE, which aims to reach net zero by 2050, plans to invest $160 billion over the next three decades to hasten renewable energy development.
With the development of the Emirates' plans in this field, Orgonx will invest plans in this field, starting from the United Arab Emirates and covering several countries in the Middle East, including Saudi Arabia, Kuwait, Oman, Qatar, Bahrain, Iraq, Turkey
“Looking ahead, renewable capacity is expected to skyrocket to over 270 gigawatts of installed capacity in 2022, driven primarily by solar and hydrogen expansion,” Rystad Energy said.
Onshore wind projects, however, declined during the period, due to the winding down of Chinese subsidies which are projected to cause a 40 gigawatts drop in capacity for the country, according to the report.
Onshore wind installations globally are expected to fall to around 85 gigawatts in 2021 – a 20 gigawatts drop year-over-year – and a further 15 gigawatts in 2022.
The trend, however, is expected to be short-lived, as demand for renewable generation soars in the wake of clean energy targets set by different countries and new projects start, Rystad Energy said.
The report also said global green hydrogen project announcements have accelerated this year, as countries focus on cutting emissions. A total of 245 gigawatts of hydrogen electrolyser facilities have been announced worldwide in 2021 – six times the levels seen in 2020.
Green hydrogen is manufactured from electrolysis, which involves splitting water molecules into hydrogen and oxygen, using renewable energy.
The UAE and other countries around the region have formulated plans to introduce hydrogen into the energy mix and tap into the clean fuel’s potential.
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