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Posted by on Jun 28, 2013 in Economy |

Predict that renewable energy will be the second most used in the world for 2016

Predict that renewable energy will be the second most used in the world for 2016

(CC) Julia Manzerova

The International Agency (IEA), an international organization created by the Organization for Economic Cooperation and Development (OECD) to coordinate energy policies of its member states, launched Wednesday its Market Report Medium Term Renewable Energy .

In the report, the IEA estimated that the electricity generated by sources will grow 40% over the next five years, and could exceed convertirese natural gas in the second most used energy source in the world for 2016.

The paper estimates that energy like wind, solar and biothermic could reach a quarter of the world’s energy mix by 2018, which in 2011 accounted for 20%. If projections are met, renewable energy would be just behind the coal as the energy source used in the world.

The agency attributes this growth to the overall cost reduction to extract energy from renewable sources, particularly wind and solar technologies. “As costs continue to decline, renewable energy versus merit increase power generation from fossil fuels,” said IEA Executive Director Maria van der Hoeven.

For countries outside the OECD, the agency says it will account for 58% of the energy generated by renewable sources by 2018, up 4% on 2012, where it is estimated that China alone will account for 40% of that growth for the next five years.

Predict that renewable energy will be the second most used in the world for 2016 image 2

Links:
Medium-Term Renewable Energy Market Report 2013 (IEA)
Renewables to surpass gas by 2016 in the global power mix (IEA)
Projected Renewables Natural gas to overtake as world’s second-largest power source (The Verge)

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