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IEA report estimates 40 per cent renewables growth by 2017
- 11 years ago (2012-07-06)
- Junior Isles
A new “Medium-Term Renewable Energy Market Report 2012” by the International Energy Agency (IEA) estimates that renewable generation should grow by 1840 TWh globally between 2011 and 2017, an almost 60 per cent increase on the 1160 TWh growth between 2005 and 2011, and a 40 per cent increase on current generation levels.
Despite economic uncertainties in many countries, the IEA predicts global power generation from hydropower, bioenergy, onshore wind, offshore wind, solar PV, concentrating solar power, geothermal and wave power will accelerate.
The report further predicts an increasingly shift in renewables growth from the OECD countries to new markets, with non-OECD countries accounting for around two-thirds of total renewables growth.
Of the 710 GW of new renewable electricity capacity expected globally by 2017, China will account for almost 40 per cent, the IEA says. It also projects significant deployment in the United States, India, Germany and Brazil, among others.
The IEA identifies OECD growth as underpinned in large part due to supportive policy and market frameworks in OECD countries. However, in large and small emerging markets the IEA reports that renewables growth is being driven by increasing electricity demand and energy security needs.
Hydropower continues to account for the majority of global renewable generation and it will see the largest absolute growth of any single renewable technology over 2011-17 at 730 TWh, with this largely driven by non-OECD countries.
Non-hydropower renewable technologies are expected to increase by more than 1100 TWh between 2011 and 2017, with growth equally split between OECD and non-OECD countries. Onshore wind, bioenergy and solar PV are anticipated to see the largest increases.
