The world’s total installed renewable energy amounted to almost 2,800 gigawatts in 2020. According to data presented by TradingPlatforms.com, China has an installed renewable energy capacity of 895 gigawatts – larger than the next 5 nations combined.
China has set itself apart as the world’s leader in renewable energy. In 2020, China accounted for nearly a third (32%) of the world’s installed renewable energy capacity with 895 gigawatts. The next on the list is the US with a distant 292 gigawatts. In fact, the next five countries on the list after China had a combined capacity that is less than China.
The US, Brazil, India, Germany, and Canada had a combined capacity of 809 gigawatts in 2020. Japan was the only other country to have a capacity greater than 100 gigawatts, while Italy and France both had capacities of 55 gigawatts in 2020 to close out the top 10.
Total renewable energy capacity increased by 10% YoY in 2020 from 2538 gigawatts to 2799. From 2015-2020 Total installed renewable energy capacity grew at a compound annual growth rate (CAGR) of 8.67%. Several various types of renewable energy also experienced varying levels of growth.
In 2020 Hydro Energy, Bioenergy, and Geothermal energy all experienced modest growth of between 1% and 2%. However, both Wind and Solar energy experienced significant YoY growth in 2020. Wind energy experienced an almost 18% YoY growth, while Solar had a YoY growth of 21.6%.
