Renewables posted record growth rate in 2015 — IRENA

ABU DHABI — Renewable energy capacity grew worldwide by a record 8.3 per cent in 2015, according to a report published on Thursday by a global green energy organisation. “As of the end of 2015, 1,985 gigawatts (GW) of renewable generation capacity existed globally,” the International Renewable Energy Agency (IRENA) said in a statement.

The report from the Abu Dhabi-based organisation described an increase of 152GW last year as “the highest annual growth rate on record,” with wind and solar energy driving the hike “due in large part to a continued decline in technology costs”.

“Renewable energy deployment continues to surge in markets around the globe,” said IRENA Director General Adnan Amin. “Falling costs for renewable energy technologies, and a host of economic, social and environmental drivers are favouring renewables over conventional power sources.”

Wind power capacity grew by 17 percent, or 63GW, “driven by declines in onshore turbine prices of up to 45 per cent since 2010”, the report indicated. Solar power capacity rose by 37 per cent, or 47GW, after prices of solar modules fell. However, hydropower capacity increased only by three per cent, while bioenergy and geothermal energy capacity increased by five per cent each.