Global renewable energy capacity is set to rise by 50% in five years' time,...
LONDON, - Global renewable energy capacity is set to rise by 50% in five years’ time, driven by solar photovoltaic installations on homes, buildings and industry, according to the International Energy Agency .
Total renewable-based power capacity will rise by 1.2 terawatts by 2024 from 2.5 TW last year, equivalent to the total installed current power capacity of the United States. “Renewables are already the world’s second largest source of electricity, but their deployment still needs to accelerate if we are to achieve long-term climate, air quality and energy access goals,” said Fatih Birol, the IEA’s executive director.
The cost of generating electricity from distributed solar PV is already below retail electricity prices in most countries.
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