Photovoltaics (PV) dominated as the main new power-generating technology source added to grids in dozens of countries ranging from Australia, to India, Italy, Namibia, Uruguay and the U.S. in 2019. With a record 118 gigawatts constructed, PV topped all other technologies in new-build terms and was the most popular technology deployed in a third of nations, according to complete and proprietary data compiled by research company BloombergNEF (BNEF).
81 countries built at least 1 MW of new PV installations
Wind and solar accounted for over two-thirds of the 265GW of new capacity installed worldwide in 2019, up from less than a quarter of new build in 2010. For the first time, the two technologies also accounted for the majority of new generation recorded in 2019. Including hydro power, renewables made up three-fourths of 2019 commissioned capacity.
Solar not only in wealthier nations
Wind and solar build was mostly concentrated in wealthier nations during the first half of the 2010s but that has shifted recently. In a group that includes nearly all OECD nations, wind and solar have accounted for the majority of new capacity built each year since 2011. Among a group of non-OECD nations plus Chile, Colombia, Mexico and Turkey, wind and solar have accounted for the majority of annual build each year since 2016.
BNEF estimates that global power sector CO2 emissions slipped 1.5% 2018-2019 as declines in the U.S. and EU more than offset an increase from China, which accounted for 37% of the 2019 total. The U.S. followed with 14% and the EU with 6%.
The Power Transition Trends 2020 report and tool are based on data collected individually from 138 nations through 2019. This encompasses every country in the world with over two million inhabitants.
Power sector CO2 emissions to fall further in 2020
Separately, BNEF has been tracking power production in 25 of the world’s largest developed markets daily in 2020. Based on those preliminary data, BNEF expects total global generation, coal generation, and power sector CO2 emissions to fall further in 2020. Emergency responses to Covid-19 have slowed economies and cut electricity demand in at least 20 major nations vs. business-as-usual scenarios calculated by BNEF. (hcn)
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