Renewables could create quarter of world’s electricity by 2018
As the cost of production drops, renewable energy is expected to account for a quarter of worldwide energy generation by 2018, up from a fifth in 2011.
The International Energy Agency (IEA) forecasts a 40% increase in supply from renewables such as wind, solar and hydropower in the next five years.
Global electricity generation from renewable sources will exceed that of gas and be twice that of nuclear by 2016, according to the IEA report.
“Renewable power sources are increasingly standing on their own merits versus new fossil fuel generation,” said IEA executive director Maria van der Hoeven.
The predictions, in the IEA’s latest medium-term renewable energy market report published in June 2013, are largely based on an expected surge in renewable capacity in developing nations. They are expected to account for two-thirds of all growth in renewables up to 2018.
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