Renewable energy capacities grew by six percent in 2021 to a record level of 295 gigawatts and are projected to increase by eight percent to 320 gigawatts this year, the global energy watchdog said in a report on Wednesday.

However, the growth could lose steam in 2023 and beyond due to “uncertainties and policy-related implications,” International Energy Agency (IEA) said.

“New capacity for generating electricity from solar, wind and other renewables increased to a record level worldwide in 2021 and will grow further this year as governments increasingly seek to take advantage of renewables’ energy security and climate benefits,” said the IEA report.