In recent years, increasing energy costs and decreasing resources all over the world have started to become a problem. As a solution to this, many countries and institutions are making serious investments in the field of renewable energy. The International Energy Agency revealed the trend in its statement on Tuesday.
International Energy Agency: “Renewable energy will overtake coal by 2025”
With the problems experienced in energy resources in recent years, the whole world has turned its eyes to renewable energy sources. Large-scale investments and long-term plans in this area seem to bear fruit. The International Energy Agency points out that the use of renewable energy sources is increasing.
The agency said in a statement that growth in renewable energy capacity worldwide will double by 2027. In addition, more growth is expected in the next 5 years than in the last 20 years.
Renewable energy sources will prevent fuels that emit harmful gases such as coal in the medium term. Renewable energy sources will surpass coal as the largest source of electricity generation by early 2025, according to the International Energy Agency report.
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Fatih Birol, Executive Director of the International Energy Agency (IEA), made the following statements on the subject.
The world is poised to add as much renewable energy in the next 5 years as it did in the previous 20 years. This is a clear example of how the current energy crisis can be a historic milestone towards a cleaner and safer energy system. The continued momentum of renewables is critical to helping keep the door open to limiting global warming to 1.5°C.
Russia’s attempt to invade Ukraine is cited as one of the biggest factors in accelerating the trend towards renewable energy sources. After the war, many countries and large companies impose embargoes against Russia. In return, the possibility of Russia cutting natural gas to many countries increases. As such, European countries in particular turned to alternative energy sources.