Despite global uncertainties, renewable energy continues to grow. The latest data released by the International Renewable Energy Agency (IRENA) shows that as of 2021, the global renewable energy installed capacity reached 3064 gigawatts (GW), representing a 9.1% year-on-year increase.

In 2021, solar and wind energy continued to dominate the new installed capacity, accounting for 88% of all new renewable energy generation. Solar energy generation saw a year-on-year increase of 19%, while wind energy generation increased by 13%.  

In 2021, 60% of the new renewable energy installed capacity came from Asia, with China being the largest contributor, adding 121 GW of new capacity. Europe led by the United States and North America ranked second and third respectively, adding 39 GW and 38 GW. Renewable energy installed capacity in Africa grew by 3.9%, while Central America and the Caribbean region grew by 3.3%. Although the growth in these two regions is stable, it is far below the global average, indicating the need for enhanced international cooperation to optimize the power market and drive large-scale investment in these regions.

It is worth noting that with the increase in new installed capacity in major regions in recent years, the global total solar installed capacity has now exceeded the wind installed capacity. In terms of wind energy, compared to 2020, wind energy continued to expand at a lower rate in 2021, adding 93 GW of new capacity, down from 111 GW in the previous year.

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