The amount of solar energy installed on the world's power grids jumped 50 percent year over year in 2016, local media quoted an International Energy Agency report on Monday.

According to the report, between 70 and 75 gigawatts worth of solar panels came online, with close to half of those installations coming from China, where solar capacity more than doubled last year.

IEA said renewables represented 24 percent of total electricity output, and it forecast the renewable power will grow by 36 percent by 2021, making it the fastest-growing source of electricity generation globally.