Although the expansion of renewable energies continues to progress rapidly, it will be somewhat slower than previously predicted until 2030. This is according to the report »Renewables 2025« published by the International Energy Agency (IEA). The report’s forecasts for global growth in renewable energy capacity have been revised slightly downwards compared to last year. This is mainly due to political changes in the United States and China. » The forecast for the United States is revised down by almost 50%. This reflects several policy changes, including the earlier phase out of federal tax credits, new import restrictions, the suspension of new offshore wind leasing and restricting the permitting of onshore wind and solar PV projects on federal land. China’s shift from fixed tariffs to auctions is impacting project economics and lowering growth expectations.«
Driven by the rapid expansion of solar energy, global renewable energy capacity is nevertheless expected to more than double by 2030, according to the IEA forecast. The Renewables 2025 report assumes that global capacity for electricity generation from renewable energies will increase by 4,600 GW by 2030. This is roughly equivalent to the total electricity generation capacity of China, the European Union and Japan combined.
Solar energy will account for around 80 per cent of global growth in renewable energies over the next five years, followed by wind, hydro, bio and geothermal energy.
»The growth in global renewable energy capacity will be dominated by solar energy in the coming years, but wind, hydro, bioenergy and geothermal energy will also contribute,« said IEA Executive Director Fatih Birol. »In addition to growth in established markets, solar energy will also experience an upswing in economies such as Saudi Arabia, Pakistan and several Southeast Asian countries. As the importance of renewable energy for electricity supply increases in many countries, policymakers must pay particular attention to the challenges associated with supply chain security and grid integration.«
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