Renewable power capacity stalls for 1st time since turn of millennium

Portfolio
After nearly two decades of strong annual growth, renewables around the world added as much net capacity in 2018 as they did in 2017, an unexpected flattening of growth trends that raises concerns about meeting long-term climate goals, the International Energy Agency (IEA) reported.
The current situation and prospects of solar energy in Hungary, including changes to the regulatory environment will also be on the agenda of the Portfolio Clean Energy & Disruptive Trend Summit 2019 conference on 4 June. It’s not too late to register!


Last year was the first time since 2001 that growth in renewable power capacity failed to increase year on year. New net capacity from solar PV, wind, hydro, bioenergy, and other renewable power sources increased by about 180 Gigawatts (GW) in 2018, the same as the previous year, according to the International Energy Agency’s latest data.

That’s only around 60% of the net additions needed each year to meet long-term climate goals.

Renewables have a major role to play in curbing global emissions. Renewable capacity additions need to grow by over 300 GW on average each year between 2018 and 2030 to reach the goals of the Paris Agreement, according to the IEA’s Sustainable Development Scenario (SDS).

Click to enlarge
But the IEA’s analysis shows the world is not doing enough. Last year, energy-related CO2 emissions rose by 1.7% to a historic high of 33 Gigatonnes. Despite a growth of 7% in renewables electricity generation, emissions from the power sector grew to record levels.

Since 2015, global solar PV’s exponential growth had been compensating for slower increases in wind and hydropower. But solar PV’s growth flattened in 2018, adding 97 GW of capacity and falling short of expectations it would surpass the symbolic 100 GW mark.

Click to enlarge
Despite slower solar PV growth, China accounted for almost 45% of the total capacity increase in renewable electricity last year. With new transmission lines and higher electricity demand, China’s wind additions picked up last year, but hydropower expansion continued to slow, maintaining a trend observed since 2013.

Capacity additions in the European Union, the second-largest market for renewables, saw a slight decline. Solar PV grew compared with the previous year, while wind additions slowed down. Policy transition challenges and changing renewable incentives resulted in slower growth of onshore wind in India and of solar PV in Japan.

Renewable capacity expansion accelerated in many emerging economies and developing countries in the Middle East, North Africa and parts of Asia, led by wind and solar PV as a result of rapid cost declines.

Click to enlarge


' title='
 

More in Economy

Hivatalos: januártól indul az építőipari cégek támogatása
August 29, 2025 10:45

New construction starts in Hungary set an unpleasant record

The domestic construction industry has really not regained its footing

transport
August 29, 2025 09:19

Hungary's foreign trade balance on track for historic record, but signs of recovery remain weak

The first data for the second half of the year are in

moszkva-vlagyimir putyin-oroszország-hadsereg-ukrajna-konfliktus-frontvonal-orosz haderő-donyeck-orosz-ukrán háború
August 29, 2025 08:51

Hungarian-Ukrainian relations hit new low over oil pipeline attacks and army officer's entry ban

War of words breaks out, with Poland also joining in

Bosch Rexroth
August 28, 2025 14:30

GKI Economic Research Institute's economic sentiment index finally shows slight increase

Moving away from the lowest point of the post-Covid era so far

gyár termelés worker
August 28, 2025 11:31

Summer sees turnaround in domestic labor market

Employment has increased

ukrán drónerők kitiltás barátság vezeték
August 28, 2025 11:30

Ukraine's drone force commander of Hungarian nationality banned from Hungary and Schengen zone

The Hungarian government "condemns all attacks on the country's sovereignty"

LATEST NEWS
Charting is displayed using TradingView's technology, a platform, where you can build advanced charts, spot upcoming trends in the stock screener, and find inspiration in multiple trading ideas

Detailed search