International Report Predicts Renewable Energy Sources will Pass Natural Gas by 2016
Wind, solar, hydro and other renewable forms of energy are growing worldwide at such a rate that they will become more popular than natural gas in just three years and double the amount of energy produced by nuclear power.
The report says renewables are now the fastest-growing types of power generation and will comprise almost 25% of global energy by 2018. Only two years ago, renewables made up about 20% of the planet’s power sources.
The amount of non-hydro energy generated by wind, solar, bioenergy and geothermal is expected to double, from 4% in 2011 to 8% by 2018.
“As their costs continue to fall, renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation,” IEA Executive Director Maria van der Hoeven told the Renewable Energy Finance Forum in New York. “This is good news for a global energy system that needs to become cleaner and more diversified.”
The IEA says two main factors are “driving the positive outlook” for renewable power generation: They’re becoming cost-competitive with fossil fuels and offering a cleaner source of energy in emerging countries trying to reduce their greenhouse gas emissions.
To Learn More:
Renewables to Surpass Gas by 2016 in the Global Power Mix (International Energy Agency)
Renewable Energy Medium-Term Market Report 2013 (International Energy Agency) (pdf)
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