This year's increase comes amid a positive outlook for the renewable energy industry thanks to falling technology costs, the need for new power capacity and the momentum of the COP21 agreement signed in Paris, says the research group's latest outlook for the sector.
However, growth is forecast to slow – partly because mature markets are reining in their previous levels of support and adopting new mechanisms to incentivise renewable energy.
BMI Research is predicting annual average growth rates of 7% for non-hydro renewables capacity between 2016 and 2025, down from the 21% seen between 2006 and 2015 – although statistical base effects are also part of the picture.
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