The growth of renewable energy will slow for the first time in 20 years due to the coronavirus pandemic as developers build fewer wind farms and solar energy projects.
The warning comes from the International Energy Agency’s (IEA) renewable energy market update report, which also notes that a rebound is possible, particularly if governments support a green economic recovery from the pandemic.
The world’s renewable capacity will grow by just 6% (167GW) this year, which is 13% less than the amount of new capacity that came online in 2019.
The slower – though still considerable – growth forecast for this year reflects the impact of supply chain disruptions, lockdown measures, and social distancing, as well as financing challenges.
The IEA had previously expected 2020 to be a bumper year for green energy.
The U.S and China are still expected to boost their renewable capacity both this year and next, as firms rush to complete projects before the expiry of government incentives.