Renewables to top Global Power Growth by 2020 – IEA



RENEWABLE energy is expected to represent the largest single source of electricity growth over the next five years, driven by falling costs and aggressive expansion in emerging economies, the France-based International Energy Administration, IEA, said in its annual market report.
Pointing to the great promise renewables hold for affordably mitigating climate change and enhancing energy security, the report, warns governments to reduce policy uncertainties that are acting as brakes on greater deployment.
“Renewables are poised to seize the crucial top spot in global power supply growth, but this is hardly time for complacency,” said IEA’s Executive Director, Fatih Birol, as he released the IEA’s Medium-Term Renewable Energy Market Report 2015 (MTRMR) at the G20 Energy Ministers meeting. “Governments must remove the question marks over renewables if these technologies are to achieve their full potential, and put our energy system on a more secure, sustainable path.”
The report noted that renewable electricity additions over the next five years will top 700 gigawatts (GW) more than twice Japan’s current installed power capacity. “They will account for almost two-thirds of net additions to global power capacity – that is, the amount of new capacity that is added, minus scheduled retirements of existing power plants.


Check the Vanguard for the full story.























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