The energy crisis is driving a sharp acceleration in renewable power additions with capacity growth set to almost double in the next five years, the International Energy Agency said Dec. 6 in its annual renewables report. Global renewable power capacity is expected to grow by 2,400 GW over 2022-2027, equal to the entire power capacity of China today, according to the report, Renewables 2022. This would see renewables overtake coal as the world’s largest single source of electricity generation. “This massive, expected increase is 30 higher than the amount of growth that was forecast just a year ago, highlighting how quickly governments have thrown additional policy weight behind renewables,” the IEA said.
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