Dive Summary:
- According to a new report from the International Energy Agency, renewable energy sources will supply more electricity than nuclear or natural gas generation by 2016.
- The IEA forecasts the use of wind, solar, hydro and other renewable sources will grow 40% in the next five years.
- Due to lower costs and higher demand in emerging markets, the IEA projects non-hydro renewable sources will reach 8% of total global electricity generation capacity by 2018, doubling its 4% presence in 2011.
From the article:
... “Renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation,” IEA Executive Director Maria van der Hoeven said in New York today. “Many renewables no longer require high economic incentives.”
Emerging markets will be the largest drivers of the growth for renewables in the next few years, with China accounting for 40 percent, or about 310 gigawatts of new capacity. About 58 percent of total renewable generation in 2018 will come in nations outside the Organization for Economic Cooperation & Development, up from 54 percent in 2012, the IEA said. ...
