Global renewable energy capacity is set to rise by 50% in five years’ time, driven by solar photovoltaic (PV) installations on homes, buildings and industry, according to the International Energy Agency (IEA).
Total renewable-based power capacity will rise by 1.2 terawatts (TW) by 2024 from 2.5 TW last year, equivalent to the total installed current power capacity of the United States.
Solar PV will account for nearly 60% of this growth and onshore wind 25%, the IEA’s annual report on global renewables showed.
The share of renewables in power generation is expected to rise to 30% in 2024 from 26% today. Read More
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