New Delhi, Dec 1 (TIWN) With India set to come out on top in terms of the rate of growth, doubling new installations compared to 2015-2020, the growth of the world's capacity to generate electricity from solar panels, wind turbines and other renewable technologies is on course to accelerate over the coming years. The year 2021 is expected to set a fresh all-time record for new installations, the IEA said on Wednesday.

Despite the rising costs of key materials used to make solar panels and wind turbines, the addition of new renewable power capacity this year is forecast to rise to 290 gigawatts (GW) in 2021, surpassing the previous all-time high set last year, according to the latest edition of the International Energy Agency's annual Renewables Market Report.