CORRECTED (OFFICIAL) - World's renewable capacity grows by record 8.3% in 2015 - IRENA

In our story dated April 7 and headlined “World's renewable capacity grows by record 8.3% in 2015 - IRENA” please read in the second paragraph 26% instead of 37% (source corrects figure in news release).

A corrected version follows:

The world's renewable electricity capacity increased at a record-high rate of 8.3% in 2015 as falling technology costs spurred solar and wind deployment, the International Renewable Energy Agency (IRENA) said today.

Renewable power generation capacity expanded by 152 GW last year, with wind providing 63 GW of the increase and solar 47 GW. The two technologies grew at rates of 17% and 26%, respectively. Onshore turbines are now up to 45% cheaper than in 2010, while the prices of solar modules have dropped by up to 80% during the same period, the agency noted.

According to its statistics, the world had 1,985 GW of renewable capacity at the end of 2015, with hydropower accounting for the largest part -- 1,209 GW. There was 432 GW of installed wind capacity and 227 GW of solar. Other renewables included 104 GW of bioenergy, 13 GW of geothermal energy and about 500 MW of marine energy.

Developing countries experienced the fastest growth in renewable capacity in 2015, with Central America and the Caribbean growing at a rate of 14.5%. Asia expanded at a rate of 12.4%, while in Europe and North America, capacity increased by 5.2% and 6.3%, respectively.

Asia saw a 48% jump in solar capacity as China added 15 GW and Japan 10 GW. With 8 GW of solar additions North America outstripped Europe, which installed 7.6 GW last year.

About 95% of wind capacity is now located in Asia, Europe and North America but wind energy is also starting to expand rapidly in other regions such as South America, IRENA said.

"Renewable energy deployment continues to surge in markets around the globe, even in an era of low oil and gas prices," said IRENA director-general Adnan Z Amin. "This impressive growth, coupled with a record USD 286 billion invested in renewables in 2015, sends a strong signal to investors and policymakers that renewable energy is now the preferred option for new power generation capacity around the world," he added.

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