IEA report
sees renewable power increasingly cost-competitive with new fossil-fuel
generation, but agency warns against complacency
Power generation
from hydro, wind, solar and other renewable sources worldwide will exceed that
from gas and be twice that from nuclear by 2016, the International Energy
Agency (IEA) said today in its second annual Medium-Term Renewable
Energy Market Report (MTRMR).
According to the MTRMR, despite a difficult economic
context, renewable power is expected to increase by 40% in the next five years.
Renewables are now the fastest-growing power generation sector and will make up
almost a quarter of the global power mix by 2018, up from an estimated 20% in
2011. The share of non-hydro sources such as wind, solar, bioenergy and
geothermal in total power generation will double, reaching 8% by 2018, up from
4% in 2011 and just 2% in 2006.
