Energy crisis driving an acceleration in renewables installations – IEA

The global energy crisis is driving an unprecedented acceleration in the installation of renewable power, with total capacity growth worldwide set to almost double in the next five years to reach 2 400 GW by 2027, according to the ‘Renewables 2022’ report published by the International Energy Agency (IEA) on December 6.

The report also finds that renewables are set to account for over 90% of global electricity expansion over the next five years, as well as adding as much renewables in the next five years as it did in the past 20, overtaking coal to become the largest source of global electricity by early 2025.