The world’s total installed renewable energy amounted to almost 2,800 Gigawatts in 2020. According to data presented by TradingPlatforms.com, China has an installed renewable energy capacity of 895 gigawatts – larger than the next 5 nations combined.
China has set itself apart as the world’s leader in renewable energy. In 2020, China accounted for nearly a third (32%) of the world’s installed renewable energy capacity with 895 Gigawatts. The next on the list is the US with a distant 292 Gigawatts. In fact, the next five countries on the list after China had a combined capacity that is less than China’s.
The US, Brazil, India, Germany and Canada had a combined capacity of 809 Gigawatts in 2020. Japan was the only other country to have a capacity greater than 100 gigawatts, while Italy and France both had capacities of 55 Gigawatts in 2020 to close out the top 10.
Total renewable energy capacity increased by 10% YoY in 2020 from 2538 Gigawatts to 2799. From 2015-2020 Total installed renewable energy capacity grew at a compound annual growth rate (CAGR) of 8.67%. Several various types of renewable energy also experienced varying levels of growth.
In 2020 Hydro Energy, Bioenergy and Geothermal energy all experienced modest growth of between 1% and 2%. However, both Wind and Solar energy experienced significant YoY growth in 2020. Wind energy experienced an almost 18% YoY growth, while Solar had a YoY growth of 21.6%
Rex Pascual, editor at TradingPlatforms.com, commented;
“Renewable energy continues to break deeper into the mainstream and has steadily increased its share of the world’s total power production in recent times. China has set a high benchmark for other nations in its quest to be the world’s primary source of renewable energy, a feat it is so far accomplishing.”
You can read more about the story with more statistics and information at: https://tradingplatforms.com/blog/2021/05/04/china-leads-in-renewable-energy-capacity-at-895-gigawatts-larger-than-next-5-countries-combined/