By as early as 2025, renewable energy could beat coal as the top energy source. Here’s everything you need to know.
Renewable energy to become the top source by 2025?
The International Energy Agency (IEA), headquartered in Paris revealed that renewable energy will be replacing coal as the largest generator of power. The report reveals there is a significantly high probability of limiting the warming temperature to 1.5 degrees Celcius.
“Energy security concerns caused by Russia’s invasion of Ukraine have motivated countries to increasingly turn to renewables such as solar and wind to reduce reliance on imported fossil fuels,” stated the IEA.
The IEA stated that the world is getting ready to add as many renewables in the next year when compared to the additions from the last twenty years. Moreover, the war between Russia and Ukraine is pushing the growth of renewables such as wind and solar energy.
More on the report
According to the report, the total demand for biofuel in the world will be expanding by about 22 percent in the 2022-2027 period. “The United States, Canada, Brazil, Indonesia, and India make up 80 percent of the expected global expansion in biofuel use, with all five countries having comprehensive policies to support growth,” stated the IEA report.
Additionally, the report is optimistic in terms of showing “diversification in global Photo Voltaic (PV) supply chains”. While China is expected to maintain its dominance in PV manufacturing, it could reduce from 90 percent to 70 percent. (https://lovelandhabitat.org/) As per reports, new policies in India and China will help in boosting investment in renewable energy. “The current energy crisis can be a historic turning point towards a cleaner and more secure energy system,” stated Fatih Birol. Birol is the Executive Director of IEA.