The renewable energy industry enjoyed a banner year in 2020. According to the International Energy Agency (IEA), the global economy installed a record amount of new renewable capacity in 2020, primarily powered by surging demand in the U.S. and China. Overall, 90% of the new electricity generating capacity added in 2020 was renewable energy.
And as good as 2020 was, 2021 could be an even stronger year for renewable energy. Here are three things investors should keep an eye on in the coming year.
1. A continued acceleration in renewable energy
While 2020 was a great year for renewable energy, the pandemic held it back slightly as the global economic slowdown caused some delays. For example, sales of solar panels and other components like inverters were below their pre-pandemic levels in the U.S. during the third quarter.
But those headwinds should fade in 2021. Meanwhile, new