Source: Houston Chronicle
Global capacity of renewable power is expected to grow by 50 percent in the next five years, reflecting a surge in new solar energy systems on commercial buildings, industrial sites and homes.
The Paris-based International Energy Agency whose 30 member countries work to supply reliable energy sources predicted an increase of 1,200 gigawatts of renewable power capacity by 2024 — equivalent to the current total U.S. power capacity — will be driven by lower costs and government policies that promote renewable energy with new solar installations accounting for 60 percent of the increase.
The agency predicts the share of renewables in global power generation will increase to 30 percent in 2024, up from 26 percent today, reversing a stall last year in new renewable capacity after growth for nearly two decades.
The expected expansion however is still less than what is needed to meet sustainable energy goals for climate change, air quality and energy access, according to the group.