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Renewable energy to exceed gas and nuclear, says IAE

IEA: Renewables To Exceed Natural Gas, Nuclear Energy By 2016, Energy Collective 26 June 13  Natural gas is widely considered the bridge to take us from fossil fuel dependence to a clean energy future – but that bridge may be a lot shorter than anyone could have predicted. The International Energy Agency (IEA) predicts power generation from renewable sources will exceed natural gas and be twice the contribution from nuclear energy globally by 2016 – just three short years from now.

IEA’s second-annual Medium-Term Renewable Energy Market Report (MTRMR) forecasts renewable generation will grow 40% in the next five years despite difficult economic conditions.

Wind And Solar Power The Renewables Charge

Renewable energy is now the fastest-growing sector of the global power market, and will represent 25% of all energy generation worldwide by 2018, up from 20% in 2011. In addition, renewable electricity generation is expected to reach 6,850 terawatt-hours (TWh) and total installed renewable capacity should hit 2,350 gigawatts (GW), both by 2018.

Wind and solar photovoltaic generation is powering this jump, and non-hydro renewable power will double from 4% of gross generation in 2011 to 8% in 2018. IEA cites two main drivers for their incredible outlook: accelerating investment and deployment, and growing cost competitiveness versus fossil fuels.

Strongest Growth In Developing Countries

Even though government funding has been inconsistent, private investment has remained strong, especially in developing economies. Rural electrification, energy poverty, and rising demand have been major challenges for policymakers in these countries, and renewables have become an increasingly attractive option for diverse and non-polluting power…….http://theenergycollective.com/silviomarcacci/242601/iea-renewables-will-exceed-natural-gas-and-nuclear-2016

June 29, 2013 - Posted by Christina Macpherson | 2 WORLD, renewable