IEA says renewables will become dominant electricity source within three years

• 1 year, 2 months ago (2023-02-13)
• David Flin

Renewables 751

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According to the International Energy Agency (IEA) in its latest annual outlook report on electricity, renewables will dominate the growth of the world’s electricity supply over the next three years. It predicts that renewables will overtake coal as the leading source of electricity by 2025.

After growth slowed last year to 2 per cent amid the turmoil of the global energy crisis and exceptional weather conditions, IEA expects world electricity demand to rebound at an average of three per cent over the next three years. Over 70 per cent of the increase in global electricity demand over the next three years is expected to come from China, India, and Southeast Asia.

The report also suggests electricity demand and worldwide energy supplies are becoming increasingly weather dependent. The IEA argued that as the clean energy transition gathers pace, the impact of weather events on demand will intensify due to the increased electrification of heating, while the share of weather-dependent renewables will continue to grow in the energy mix.