Energy crisis fuels renewable energy boom: IEA

Total renewable energy capacity worldwide will nearly double in the next five years, the IEA forecasts, as countries seek greater energy.

Total renewable energy capacity worldwide will nearly double in the next five years, the IEA forecasts, as countries seek greater energy security.

The International Energy Agency said on Tuesday that the energy crisis is accelerating the deployment of renewable energy, raising hopes for efforts to achieve ambitious goals to combat global warming. up globally.

Total renewable energy capacity worldwide will nearly double over the next five years and overtake coal as the largest source of electricity generation by 2025, the IEA said in a report.

Growth of 2,400 gigawatts between 2022-2027 is almost a third higher than the IEA forecast last year, according to the Paris-based agency that advises developed nations.

This will help “maintain limited capacity global warming to 1.5 (C)”, the IEA said, referring to the more appropriate target set out in the 2015 Paris Agreement to avert climate catastrophe.

The invasion of Ukraine by major oil and gas exporter Russia has triggered an energy crisis and prompted countries in Europe, which are heavily dependent on Russian supplies, to diversify their supplies.

“Renewables have expanded rapidly, but globally energy crisis has brought them into an extraordinary new phase of even faster growth as countries seek to capitalize on their energy security interests,” said IEA executive director Fatih Birol.

“The world will add as much renewable energy in the next five years as it did in the previous 20 years,” Birol said in a statement.

“This is a stark example of how the current energy crisis can become a historic turning point towards a cleaner and safer future world. energy system.”

The amount of renewable electricity capacity added in Europe between 2022-2027 is forecast to be twice as high as in the previous five-year period, the IEA said.

EU countries can deploy wind and Solar even faster if they quickly streamline the licensing process, the report said.

The IEA’s revised forecast is also fueled by new policies and market reforms that are being implemented faster than previously planned.

China is expected to account for nearly half of newly added global renewable energy capacity in the next five years, the report said.

© 2022 AFP

quote: Energy crisis driving renewable energy boom: IEA (2022, 6 December) accessed 6 December 2022 from fuels-renewables-boom.html

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