Renewables are expected to overtake coal as the main energy source for global electricity in early 2025, projections by the International Energy Agency (IEA) show.
In its annual report on the electricity market, published Wednesday, the IEA said that renewables will make up more than a third of total electricity generation, rising to 37 percent in 2026.
The increase is mainly thanks to cost reductions in solar energy.
“The energy sector currently produces more CO2 emissions than any other country in the global economy, so the rapid growth of renewables and the steady expansion of nuclear power are expected to match all the growth in global electricity demand over the next three years,” IEA head Fatih Birol said.
If nuclear power is included, it’s expected that almost half of the world’s electricity will come from low-emissions sources by 2026.
The IEA expects electricity output from nuclear plants to reach a record level next year as France finishes renovating a number of reactors.
The IEA said power generated from low-emissions sources, such as wind, solar and nuclear, will be enough to meet growth in global demand for the next three years.
On the other hand, electricity generation from coal will see an average yearly reduction of 1.7 percent until 2026 – mainly due to the expected decline in China’s fossil fuel usage.
At the same time, electricity generated from natural gas should increase by about 1 percent per year.
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