Renewable power generation capacity grew 8.3% worldwide in 2015 — the highest annual growth rate on record, according to the International Renewable Energy Agency (IRENA).
New data from IRENA show wind and solar saw significant growth due to lower technology costs. Wind power capacity increased by 17% as prices for onshore turbines fell 45% between 2010 and 2015. Solar power capacity grew 37% due to an 80% price drop for photovoltaic modules over the same time period.
IRENA said overall renewable power generation capacity has grown by roughly one-third over the past five years. The Central America/Caribbean and Asia regions saw the fastest growth (14.5% and 12.4%, respectively), while capacity grew 6.3% in North America and 5.2% in Europe.
Hydropower had the biggest share of power generation capacity at the end of last year, with wind and solar providing much of the remainder.
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