International Energy Agency Forecasts Significant Increase in Use of Renewable Energy
Last week, the International Energy Agency stated that the capacity to produce renewable energy globally would increase by more than 70% in the next five years. The agency believes that this will mainly be driven by energy security concerns as more countries turn to the use of renewable sources of energy such as wind and solar in an effort to decrease their reliance on fossil fuels. According to the agency’s forecast, renewable energy will overtake coal to become the biggest source of electricity globally by 2025. The International Energy Agency expects that during this period, capacity will reach 5640 GW,…