IEA Highlights Barriers To Mena Renewables Growth

Renewables provided more than half of global 2015 power capacity additions. But Mena contributed only 5% amid major barriers to regional renewables expansion.

Last year marked a turning point for renewables, the International Energy Agency (IEA) says, with new capacity additions reaching a record 153GW – more than half of the new power capacity added worldwide.

The agency’s latest Medium-Term Renewable Energy Market Report forecasts a further 13% growth in global renewables capacity worldwide during 2016-21, mainly due to strong policy backing in the US, China, India and Mexico.

Of the new capacity added in 2015, 66GW was wind powered and 49GW was solar photovoltaic (PV). Adding to the incentive for renewables, the agency expects costs to fall by 25% for solar PV projects and 15% for onshore wind by 2021. (CONTINUED - 730 WORDS)

DATA INSIDE THIS ARTICLE

table MENA Renewables Drivers And Challenges
table Renewables Policies In Key MENA Countries