Electricity capacity from renewable energy is set to expand by as much as 50% in the next five years, bolstered by government support and falling costs. But more would be needed to slow down warming of the globe, the International Energy Agency said.
Those gains represent an increase of about 1,200 gigawatts from 2018 to 2024, equal to the total installed capacity in the U.S., according to a report published Monday by the Paris-based institution. Countries are adding more clean power as a key part of efforts to de-carbonize energy supply, but it’s still not fast enough, said the organization that advises rich nations on energy policy.
“Renewables are already the world’s second largest source of electricity,” said Fatih Birol, the IEA’s executive director. “But their deployment still needs Read More
Latest posts by Bloomberg Quint (see all)
- Indian Oil Chairman Sanjiv Singh on India Eco, Aramco, Trade War - November 11, 2019
- OPEC Looks Ahead and Sees Oil’s Plateau - November 9, 2019
- Fueling The Future: How Natural Gas Is Driving Industrial Efficiency In India - November 8, 2019