Renewables are set to overtake coal as the largest source of power generation globally by 2025, an international energy think tank said, especially as clean energy saw its fastest growth last year.
A report by the International Energy Agency (IEA) showed that global renewable energy capacity surged by a record high 50 percent to 510 gigawatts (GW) in 2023, with solar power accounting for 75 percent of new capacities worldwide.
This massive acceleration makes it possible for renewable energy in the world to expand to 7,300 GW by 2029, IEA said.
Solar PV and wind are projected to account for 95 percent of the expansion, allowing renewables to finally surpass coal in terms of power generation.
Globally, the share of coal in total global generation was at least 36 percent in 2023, while renewables stood at 30.2 percent, according to IEA.
“Onshore wind and solar PV are cheaper today than new fossil fuel plants almost everywhere, and…
