Renewable energy broke a record in new electricity capacity in 2020 despite the effects of the COVID-19 pandemic and was the only electricity generation source to record a net increase in total capacity. While investment in renewable energy capacity has increased for 3 consecutive years, albeit relatively little, companies continued to break records in
More countries are turning to renewable sources for the electrification of heat. Electric vehicle (EV) sales have increased, although production of biofuels used in transportation has declined. China was among the countries that strengthened their commitments to action against the climate crisis and set a carbon neutral target. The United States rejoined the Paris Agreement in early 2021.
Meanwhile, previous barriers to progress in the renewable energy sector persisted in 2020. These include the slow increase in the share of renewables in total final energy consumption (TFEC), insufficient innovation in some sectors, the need for infrastructure development, lack of affordability (affordability), lack of adequate policy and enforcement in some markets, and ongoing support for fossil fuels.
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