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New UserRenewables Will Overtake Coal by Early 2025, Energy Agency Says
07 Dec 2022
In a new report, the international group said that solar, wind
and other renewable sources will expand much more swiftly than forecast last
year.
·
Worldwide, growth in
renewable power capacity is set to double by 2027, adding as much renewable
power in the next five years as it did in the past two decades, the
International Energy Agency said Tuesday.
Renewables are
poised to overtake coal as the largest source of electricity generation by
early 2025, the report found, a
pattern driven in large part by the global energy crisis linked to the war in
Ukraine.
“This is a clear
example of how the current energy crisis can be a historic turning point toward
a cleaner and more secure energy system,” said Fatih Birol, the I.E.A.
executive director, in a news release.
The expansion of
renewable power in the next five years will happen much faster than what the
agency forecast just a year ago in its last annual report, said Heymi Bahar, a
senior analyst at the I.E.A. and one of the lead authors of the report. The
report revised last year’s forecast of renewable growth upward by 30 percent
after the introduction of new policies by some of the world’s largest emitters,
like the European Union, the United States and China.
While there has been a wartime resurgence in fossil fuel consumption as European countries have scrambled to replace gas from Russia after its invasion of Ukraine in February, the effects are likely to be short-lived, the agency said.