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On Tuesday, the International Energy Agency significantly increased its forecast for five years of renewable energy growth. Because renewable energy can develop rapidly, it is benefited from strong policy support and a sharp decline in costs in some key countries.
The International Energy Agency said in the report that during 2015-2021, renewable energy growth rate was 13% higher than its previous forecast, because renewable energy has been strongly supported by China, the United States, India, Mexico and other countries. During the forecast period, solar PV costs are expected to decline by 25%, while onshore wind power costs will fall by 15%. 
Last year, about 500,000 solar panels were installed every day in the world. China accounts for about half of the world's new installed capacity of wind energy and 40% of renewable energy. In 2015, two wind turbines were installed in China every hour.
There are many factors behind the rapid development of renewable energy, such as more competition, enhanced support for key market policies, and technological improvements. Although climate change mitigation is a powerful driver of renewable energy, it is not the only driving force. Many countries, especially emerging Asian countries, are playing an equally important role in improving energy security by reducing deadly air pollution and diversified energy supplies.
Abstract Renewable energy has surpassed coal last year and has become the largest source of installed generating capacity worldwide. Although coal currently produces more electricity, installed wind and solar energy have reached record levels. On Tuesday, the International Energy Agency increased significantly
Last year, renewable energy has surpassed coal and has become the largest source of installed generating capacity worldwide. Although coal currently produces more electricity, installed wind and solar energy have reached record levels.