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Solar PV grew faster than any other fuel in 2016: IEA

Solar PV grew faster than any other fuel in 2016: IEA

China, for example, has played an important role in renewable energy's prominence, accounting for nearly half of all new solar panels installed worldwide.

The agency added that it expects more than 920GW of clean power to be installed by 2022, an increase of 43%.

The IEA addressed the proposed tax plan, saying "the current uncertainty over proposed federal tax reforms, worldwide trade, and energy policies could have implications for the relative economics of renewables and alter their expansion over the forecast period". Along with India and the USA, the three will be responsible for two-thirds of renewables expansion by 2022.

Despite strongly rising sales, the share of EVs remains limited, and biofuels are still expected to represent over 90% of total renewable energy consumption in road transport by 2022, the report said. This was the first time this has happened, it said.

Wind energy tariffs dipped to a new low of less than Rs 3 per unit, dropping sharply from the previous record of Rs 3.42, in an auction for 1,000 megawatts of projects that continued late into Wednesday evening. The IEA states that these new policies, together with power market reform, new transmission lines, and the expansion of distributed generation, are expected to speed up the deployment of solar energy.

Port Authority workers head to Puerto Rico for relief efforts
Trump is also expected to visit Puerto Rico, where some 3.5 million citizens are facing impending catastrophe. This means that foreign vessels can not move between USA ports, including Puerto Rico, explains Fialkoff.

Solar milestone: In 2016, additions of solar photovoltaic capacity grew by 50 percent, faster than any other kind of fuel for the first time, with China leading the way. With improving technology and reducing tariffs, the ministry of new and renewable energy expects to exceed the target of 175GW by 2022.

The IEA said renewables will continue to show strong growth over the coming years with electricity capacity set to increase by more than almost 1,000 gigawatts (GW), or 43 per cent, by 2022.

A new video by the International Energy Agency shows how the renewables market will develop and expand over the next several years. Renewable electricity generation will grow by more than a third to over 8,000 TWh. Meanwhile, renewable energy grew to 14% of the total USA electricity sales in 2016, with wind and solar accounting for 8% and hydropower and geothermal account for 6%.

Researchers from the United Kingdom and China recently announced five new projects to develop the " next generation" of technology in wind and wave power. Though coal will still be the largest source of electricity generation in 2022, renewables cut that gap in half.

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