Sept. 17, 2014: IEA Forecast Sees Renewable Power Becoming Increasingly Cost-Competitive
Yet Annual Growth in New Renewable Power Is Seen Slowing and Stabilizing After 2014
PARIS — Power generation from renewable sources such as solar, wind, and hydro grew strongly in 2013, reaching almost 22 percent of global generation, and was on par with electricity from gas, whose generation remained relatively stable, according to a new report from the International Energy Agency (IEA). Global renewable generation is seen rising by 45 percent and making up nearly 26 percent of global electricity generation by 2020. Yet annual growth in new renewable power is seen slowing and stabilizing after 2014.
“Renewables are a necessary part of energy security. However, just when they are becoming a cost-competitive option in an increasing number of cases, policy and regulatory uncertainty is rising in some key markets. This stems from concerns about the costs of deploying renewables,” said Maria van der Hoeven, IEA executive director.