Renewables like solar and wind represent the fastest-growing source of energy power generation and will make up a quarter of the global power mix by 2018, the International Energy Agency said in a report Wednesday.
The IEA said that in 2016 renewable energy will overtake natural gas as a power source and will be twice that of nuclear, and second only to coal as a source of power.
The growth of renewables “is a bright spot in an otherwise bleak assessment of global progress towards a cleaner and more diversified energy mix,” said IEA Executive Director Maria van der Hoeven.
The growth of the renewables—non-fossil fuels like hydropower, wind, solar, geothermal and bioenergy—has been bolstered by increased competitiveness compared with conventional energy, the IEA said.
The sector is growing especially fast in in China and other developing and emerging countries.
The IEA said non-hydro renewable power, mainly wind and solar photovoltaics, is is projected to grow from 4 percent of all power generation in 2011 to 8 percent in 2018.
“As their costs continue to fall, renewable power sources are increasingly standing on their own merits versus new fossil-fuel generation,” said van der Hoeven.
Read more at: Phys.org