International Energy Agency expects a boom in renewable energy

International Energy Agency expects a boom in renewable energy

Dhe International Energy Agency (IEA) in Paris expects an unprecedented global boom in renewable energies as a result of the Ukraine war. “In the coming years, as many new capacities will be created as in the past 20 years combined,” said IEA Director General Fatih Birol in an interview with FAZ.NET. Never before has the Energy Agency increased its forecasts for renewable energies as much as it is now.

Marcus Theurer

Editor in the economy of the Frankfurter Allgemeine Sunday newspaper.

The growth spurt will see wind, solar and other forms of renewable energy overtake coal-fired power plants as the world’s largest power generator by 2025, energy experts predict. The increase in coal-fired power generation due to the current energy crisis, on the other hand, is only a temporary phenomenon. “In Europe, Germany will have by far the largest expansion of green energy,” said Birol.

Germany leading in Europe

The Energy Agency, in its new report released on Tuesday, estimates that the world’s green power generation capacity will nearly double in the next five years. Overall, an increase of around 2,400 gigawatts can be expected, which corresponds to the entire power plant park in China. If funding bottlenecks and regulatory delays can be overcome, up to 3,000 gigawatts could even be achieved.

So far, the expansion of wind and solar energy has been motivated primarily by climate protection, says IEA boss Birol: “Now security of supply has become the most important driver.” The energy crisis caused by the Russian attack on Ukraine is causing many governments to to promote renewable energies in their own country in order to become less dependent on energy imports. Founded five decades ago in response to the first oil price crisis, the Energy Agency is a multinational research institution under the umbrella of the OECD group of industrialized countries. The IEA’s forecasts for the energy sector are widely followed.

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