Report: Renewables Could Overtake Coal as World’s Largest Power Source by 2025
12/14/2022 - Russia’s invasion of Ukraine and the energy crisis it set in motion are greatly accelerating the growth of renewable energy capacity, so much so that renewables could surpass coal as largest global source of electricity by 2025, reports the International Energy Agency (IEA).
According to the IEA, global renewable power capacity is now expected to grow by 2,400 gigawatts (GW) between now and 2027. That amount, it said, is equal to the entire power capacity of China today, the organization wrote in its latest annual report on the renewable energy sector.
“Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth as countries seek to capitalize on their energy security benefits. The world is set to add as much renewable power in the next 5 years as it did in the previous 20 years,” said IEA executive director Fatih Birol. “This is a clear example of how the current energy crisis can be a historic turning point towards a cleaner and more secure energy system.”
You can find the IEA report here.
