IEA: Renewable electricity set to grow 40 per cent globally by 2022

(Eco Business, 6 Oct 2017) The world’s renewable electricity capacity is set to rise sharply over the next five years, the International Energy Agency (IEA) says, expanding 43 per cent on today’s levels.

The forecast – a significant upwards revision of the IEA’s renewables projections last year  – is largely driven by increasing expansion of solar energy in China and India, says the Paris-based organisation.

The global dynamics of renewables expansion will also shift over this five-year period, with capacity growth in India overtaking that of the EU for the first time.

Renewables accounted for almost two-thirds of net capacity additions in 2016, with almost 165 gigawatts (GW) coming online, the IEA adds. A further 920GW of renewable capacity will be installed by 2022, according to its forecasts.

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Eco Business, 6 Oct 2017: IEA: Renewable electricity set to grow 40 per cent globally by 2022