Quantcast
Environmental News for a Healthier Planet and Life

IEA: Renewables on Track to Become Largest Source of Global Electricity in Five Years

Energy
IEA: Renewables on Track to Become Largest Source of Global Electricity in Five Years
A wind farm is seen on a mountaintop in China. zhongguo / Getty Images

By Andrea Germanos

The International Energy Agency on Tuesday laid out how clean energy is booming in the face of the coronavirus crisis, revealing that auctioned renewable capacity from January to October was a record-breaking 15% higher than the same period last year.

The Paris-based agency's Renewables 2020 report comes as the oil sector faces plummeting prices amid the Covid-19 pandemic.


 

Net installed renewable capacity is forecast to grow by nearly 4% globally in 2020, and renewables will account for almost 90% of the increase in total power capacity worldwide, according to the IEA.

Looking further ahead, "total installed wind and solar PV capacity is on course to surpass natural gas in 2023 and coal in 2024," the report says.

Carbon Brief, in its analysis of the agency's report, noted that "wind and solar capacity will double over the next five years globally and exceed that of both gas and coal." The outlet added:

Last year, Carbon Brief analysis of the IEA's data found that it only expected renewables to overtake coal output over the next five years under its more optimistic "accelerated case" scenario.

However, this year—even in its less ambitious "main case" scenario—wind, solar, hydro, and biomass are projected to take the lead within the next five years.

"Renewable power is defying the difficulties caused by the pandemic, showing robust growth while others fuels struggle," IEA executive director Fatih Birol said in statement.

"The resilience and positive prospects of the sector are clearly reflected by continued strong appetite from investors—and the future looks even brighter with new capacity additions on course to set fresh records this year and next," Birol said.

 

Birol also pointed to the United States and the impact the incoming Biden administration will have on the direction of energy policy. The IEA chief said that "if the proposed clean electricity policies of the next U.S. administration are implemented, they could lead to a much more rapid deployment of solar PV and wind, contributing to a faster decarbonization of the power sector."

Despite the recent growth in renewables and the IEA's projections, policymakers worldwide don't appear to be prioritizing clean energy in Covid-19 relief measures, even when faced with persistent calls from climate campaigners for a just, green recovery.

As the Guardian's environment editor Damian Carrington noted in his report on the agency's assessment:

Analysis for the Guardian, published on Monday, showed that far more of the coronavirus recovery funds being spent by governments was going to fossil fuels sectors than green projects.

"The natural environment and climate change have not been a core part of the thinking in the bulk of recovery plans," said Jason Eis, the chief executive of Vivid Economics. "In the majority of countries we are not seeing a green recovery coming through at all."

For some climate activists and experts, the IEA report underscored why governments should focus on funding renewables rather than fossil fuels.

Harvard professor Naomi Oreskes—a geologist, science historian, and author recognized globally as a leading voice on anthropogenic climate change—welcomed the IEA report in a tweet Tuesday.

"Today's good news: renewable energy continues to grow," Oreskes said. "Why? Because it's cheaper and better than fossil fuels. And when we eliminated subsidies to fossil fuels, renewables will do even better."

Reposted with permission from Common Dreams.

Eat Just's cell-based chicken nugget is now served at Singapore restaurant 1880. Eat Just, Inc.

At a time of impending global food scarcity, cell-based meats and seafood have been heralded as the future of food.

Read More Show Less

EcoWatch Daily Newsletter

New Zealand sea lions are an endangered species and one of the rarest species of sea lions in the world. Art Wolfe / Photodisc / Getty Images

One city in New Zealand knows what its priorities are.

Dunedin, the second largest city on New Zealand's South Island, has closed a popular road to protect a mother sea lion and her pup, The Guardian reported.

Read More Show Less

Trending


piyaset / iStock / Getty Images Plus

In an alarming new study, scientists found that climate change is already harming children's diets.

Read More Show Less
Wildfires within the Arctic Circle in Alaska on June 4, 2020. Contains modified Copernicus Sentinel data processed by Pierre Markuse. CC BY 2.0

By Jeff Masters, Ph.D.

Earth had its second-warmest year on record in 2020, just 0.02 degrees Celsius (0.04°F) behind the record set in 2016, and 0.98 degrees Celsius (1.76°F) above the 20th-century average, NOAA reported January 14.

Read More Show Less

In December of 1924, the heads of all the major lightbulb manufacturers across the world met in Geneva to concoct a sinister plan. Their talks outlined limits on how long all of their lightbulbs would last. The idea is that if their bulbs failed quickly customers would have to buy more of their product. In this video, we're going to unpack this idea of purposefully creating inferior products to drive sales, a symptom of late-stage capitalism that has since been coined planned obsolescence. And as we'll see, this obsolescence can have drastic consequences on our wallets, waste streams, and even our climate.

Read More Show Less