IEA: Renewable Energy Global Installation Increase Expected to Double in Next Five Years

PARIS, Dec. 6 (Xinhua) (Reporter Liu Fang) The International Energy Agency released on December 6, 2022 Renewable Energy Report pointed out that, driven by the energy crisis, the installation of renewable energy in various countries significantly accelerated, the next five years of the global installed capacity increment is expected to be close to the previous five-year increment of two times.

The report predicts that between 2022 and 2027, the global installed capacity of renewable energy generation will increase by 2,400 gigawatts, accounting for more than 90% of the global power increase. By early 2025, renewable energy will overtake coal as the world's top source of electricity.

Fatih Birol, executive officer of the International Energy Agency, said that the world's new renewable power generation capacity over the next five years will be equal to the previous 20 years of additions combined, clearly demonstrating that the current energy crisis can be a historical turning point for a cleaner and more secure global energy system.

The report predicts that in the next five years, the European region is expected to add renewable energy capacity is expected to reach twice the incremental increase in the previous five-year period, China's incremental increase will account for nearly half of the global incremental increase, the United States, India's renewable energy growth is also significant.

By energy type, global photovoltaic power generation capacity will triple and wind power generation capacity will nearly double, with the sum of the two accounting for more than 90% of new global renewable energy capacity. Global biofuel demand will grow by 22%.

(Source: China Energy Construction Group Shaanxi Province Electric Power Design Institute Limited)