The global energy crisis, sparked by Russia’s invasion of Ukraine, has led to an unprecedented push for renewable energy, with total global capacity set to nearly double over the next five years, overtaking coal as the main source of electricity generation and aid in energy conservation. Alive the possibility of reducing global warming to 1.5 degrees Celsius.
release of renewable energy sources
The watchdog introduced the new agency Report «Renewable Energy Resources 2022»The world is poised to add as much renewable energy in the next five years as it did in the past twenty years. The expansion of renewable energy over the next five years will be much faster than expected just a year ago. In 2022-2027, renewables are expected to grow by nearly 2,400 gigawatts in the headline forecast, notes the International Energy Agency, equivalent to China’s full installed capacity today. it’s a’85% acceleration Compared to the previous five years, and nearly 30% higher than expected in last year’s report – it’s the largest upward revision ever.
The first source of electricity in 2025
Renewables are set to become the world’s largest source of electricity generation by early 2025, overtaking coal. Its share in the energy mix is expected to increase by 10 percentage points over the forecast period, reaching 38% in 2027. Electricity from wind and solar PV will double over the next five years, providing Almost 20% of global energy production in 2027. These changing technologies account for 80 percent of the global increase in renewable energy generation over the forecast period, which will require additional energy sources and system flexibility. Meanwhile, growth in deployable renewables, including hydropower, bioenergy, geothermal power, and concentrated solar power, remains limited despite their critical role in integrating wind and solar photovoltaics into global electricity systems.
there The installed capacity of solar PV is expected to exceed that of coal by 2027to become the largest in the world. Despite the current high investment costs due to the high prices of raw materials, large-scale solar PV is the least expensive option for generating new electricity in a large majority of countries around the world.
Birol: a turning point in the energy crisis
Renewables were already expanding rapidly, but the global energy crisis has pushed them into a stunning new phase of faster growth as countries look to take advantage of their energy security advantages. “The world is poised to add as much renewable energy in the next five years as it has in the past 20 years,” said Fatih Birol, Executive Director of the International Energy Agency. “This is a clear example of how the current energy crisis can mark a historic turning point towards a cleaner and safer global energy system in the future. Continued acceleration of renewable energy is critical to help keep the door open to limit global warming to 1.5°C.”
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