‘New normal’ of elevated renewables deployments outlined in new market update

The International Energy Agency (IEA) has revised upwards, by 25%, its forecasts for renewable-energy capacity additions for 2021 and 2022 relative to those published in November, arguing that the platform is now in place for a “new normal” of elevated levels of yearly deployments. In its ‘Renewable Energy Market Update’, published on May 11, the IEA reports that additions, principally in the form of solar photovoltaic (PV) and wind, surged by more than 45% last year to 280 GW.