Additional renewable energy capacity in 2022 is expected to increase by over 8% year-on-year, reaching the 300-gigawatt (GW) mark for the first time, driven by as well as the solar photovoltaics (PV) sector, as well as China and the European Union.

In a report, the International Energy Agency (IEA) said solar installation will account for 60% of the increase this year with the commissioning of 190GW, increasing by 25% YoY.

“Utility-scale projects account for almost two-thirds of overall PV expansion in 2022, mostly driven by a strong policy environment in China and the European Union driving faster deployment,” it said.

The IEA also said that the new global onshore wind installations are expected to “slightly recover” and reach almost 80GW, following a 32% YoY decline last year. Offshore wind, on the other hand, is seen to decline by 40% YoY following the four-fold jump in China last year because of the national subsidy phase-out deadline.

Guest post from Asian Power