Wind plus solar to outstrip global gas plant by 2023 off 'sprightly' post-Covid growth
Wind and solar power plant are on track to together outstrip natural gas in installed capacity by 2023 – and coal a year later – globally, driven by record investment in renewables as the world's economies rebound from the impact of the Covid pandemic and clean-energy technology costs continue to fall, according to latest calculations from IHS Markit.
The clean-energy market is expected to see a “sprightly return to growth” in 2021, rising 8.5% from $235bn this year to $255bn and sustaining this level of spending through to mid-decade, a 9% increase over cumulative capex in 2015-2019, said the energy research group.
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