💰 Renewables to overtake coal as world’s top energy source by 2025

TL;DR

The world is set to add as much renewable energy in the next five years as it did in the past two decades, as a global energy crisis sparked by the war in Ukraine accelerates growth in renewables such as wind and solar, the International Energy Agency says.“Energy security concerns caused by Russia’s invasion of Ukraine have motivated countries to increasingly turn to renewables such as solar and wind to reduce reliance on imported fossil fuels,” the IEA said in a report on renewable energy published this month.Global renewable power capacity is now expected to grow by 2,400 gigawatts between 2022 and 2027, an amount equivalent to the entire power capacity of China today, according to the IEA report, the latest on the renewables sector.“Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth,” IEA Executive Director Fatih Birol said in a news release.The IEA described the war in Ukraine as a “decisive moment” for renewables in Europe, where governments and businesses are looking to rapidly replace Russian gas with alternatives."

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