Renewables to account for a third of global power generation in 2022

• 7 years ago (2017-10-06)
• David Flin

Solar 273

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The annual renewable energy report from the International Energy Agency (IEA) says that the price of renewable energy has fallen, competition has increased, and there has been greater uptake of new technologies.

The IEA report said the clean energy will grow by about 1000 GW over the next five years. By 2022, it predicts that clean energy will account for a third of power generation at 8000 TWh, enough to meet the current electricity demands of China, India, and Germany combined.

Dr Paolo Frankl, Head of IEA’s renewable energy division, said: “The message is very clear. Competition is driving cost down much faster than in the past. The limiting factor is no longer cost, it’s system integration.” Frankl said that solar was the best example of renewable success. Capacity grew by 50 per cent, the increase being mostly driven by upward trends in China and India.

The report predicts that in 2022, the USA will maintain its second-place position in renewable energy growth, despite the current Federal policy landscape. India is predicted to narrowly overtake the EU in third place. India has set an ambitious 100 GW solar goal.