Growth in Renewables has Stalled. Investment is Falling. But Why?
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- Published on Wednesday, 05 June 2019 10:12
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A Socialist Project e-bulletin ... No. 1836 ... May 29, 2019
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Growth in Renewables has Stalled. Investment is Falling. But Why?
John Treat and Sean Sweeney
The International Energy Agency (IEA) recently announced that the growth of capacity additions to renewable power generation stalled in 2018, after nearly two decades of growth. Calling the new findings an "unexpected flattening of growth trends," the IEA noted that this development raises serious questions about reaching climate targets. Net new capacity from solar photovoltaic (PV), wind, hydro, bioenergy, and other renewable power sources increased by about 180 Gigawatts (GW) in 2018, the same as the previous year. That’s roughly twice the annual installation of a decade ago. But, according to the IEA, it’s "only around 60% of the net additions needed each year to meet long-term climate goals."
