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IEA: Medium-Term Renewable Energy Market Report 2015
https://www.iea.org/bookshop/708-Medium-Term_Renewable_Energy_Market_Report_2015[font face=Serif][font size=5]Medium-Term Renewable Energy Market Report 2015[/font]
[font size=4]Available now in PDF format - Paper format will be available Mid-October.[/font]
[font size=3] Renewable sources of energy now stand poised to lead the world in new electricity supply. Supported by policies aimed at enhancing energy security and sustainability, renewable power expanded at its fastest rate to date in 2014 and now represents more than 45% of overall supply additions. Deployment continues to shift towards energy-hungry emerging markets, and some countries, such as China and India, have bolstered ambitions. Moreover, sustained technology progress, expansion into newer markets with better resources, and improved financing conditions are facilitating more cost-effective deployment for the most dynamic technologies (solar photovoltaics and onshore wind).
But will renewable growth in the coming years falter, or could an even faster expansion take place? Dramatic falls in fossil fuel prices over the past year have raised questions over the competitiveness of renewables and government willingness to maintain policy support. Policy uncertainties remain in the Organisation for Economic Co-operation and Development (OECD), where electricity demand has been stagnating in some markets and the rapid deployment of renewables can put incumbent utilities under pressure. For emerging markets, regulatory, grid and financing conditions can pose challenges to growth. Meanwhile, progress in the transport and heating sectors remains comparably slow, with advanced biofuels and renewable heat technologies requiring enhanced policy attention to scale up.
The Medium-Term Renewable Energy Market Report 2015 assesses these trends in the electricity, transport and heat sectors, identifying drivers and challenges to deployment, and making projections through 2020. It also assesses the potential impacts of enhanced policy actions under an accelerated case for renewable power, which would put the world more firmly on a path to a more sustainable and secure energy system.
...[/font][/font]
[font size=4]Available now in PDF format - Paper format will be available Mid-October.[/font]
[font size=3] Renewable sources of energy now stand poised to lead the world in new electricity supply. Supported by policies aimed at enhancing energy security and sustainability, renewable power expanded at its fastest rate to date in 2014 and now represents more than 45% of overall supply additions. Deployment continues to shift towards energy-hungry emerging markets, and some countries, such as China and India, have bolstered ambitions. Moreover, sustained technology progress, expansion into newer markets with better resources, and improved financing conditions are facilitating more cost-effective deployment for the most dynamic technologies (solar photovoltaics and onshore wind).
But will renewable growth in the coming years falter, or could an even faster expansion take place? Dramatic falls in fossil fuel prices over the past year have raised questions over the competitiveness of renewables and government willingness to maintain policy support. Policy uncertainties remain in the Organisation for Economic Co-operation and Development (OECD), where electricity demand has been stagnating in some markets and the rapid deployment of renewables can put incumbent utilities under pressure. For emerging markets, regulatory, grid and financing conditions can pose challenges to growth. Meanwhile, progress in the transport and heating sectors remains comparably slow, with advanced biofuels and renewable heat technologies requiring enhanced policy attention to scale up.
The Medium-Term Renewable Energy Market Report 2015 assesses these trends in the electricity, transport and heat sectors, identifying drivers and challenges to deployment, and making projections through 2020. It also assesses the potential impacts of enhanced policy actions under an accelerated case for renewable power, which would put the world more firmly on a path to a more sustainable and secure energy system.
...[/font][/font]
http://www.businessspectator.com.au/article/2015/10/5/renewable-energy/why-iea-expects-solar-and-wind-dominate-new-power-capacity-2020
[font face=Serif][font size=5]Why the IEA expects solar and wind to dominate new power capacity to 2020[/font]
[font size=3]The International Energy Agency finds itself rapidly revising its forecasts upwards for the growth of renewable energy. In its recent medium-term outlook assessment it now expects renewable energy will account for two-thirds of net additions to global power capacity over 2015 to 2020. All the IEA expects 700 gigawatts of new renewables capacity will be installed over the five years -- almost 13 times Australia’s total power generating capacity.
What is most interesting is that we’re not simply talking about conventional hydro, but more wind and solar, which will represent half of net new additions to power generation capacity over the next five years (wind and solar completely dominate non-hydro renewable installations).
According to the IEA, while government policy support is still important, a key driver of this growth is renewable energy’s declining costs. The agency notes this could mean, “some countries and regions now have the potential to leapfrog to a development paradigm mainly based on increasingly affordable renewable power. This is especially true in Sub-Saharan Africa.”
The IEA’s Executive Director Dr Fatih Birol declared” “Affordable renewables are set to dominate the emerging power systems of the world.”
...[/font][/font]
[font size=3]The International Energy Agency finds itself rapidly revising its forecasts upwards for the growth of renewable energy. In its recent medium-term outlook assessment it now expects renewable energy will account for two-thirds of net additions to global power capacity over 2015 to 2020. All the IEA expects 700 gigawatts of new renewables capacity will be installed over the five years -- almost 13 times Australia’s total power generating capacity.
What is most interesting is that we’re not simply talking about conventional hydro, but more wind and solar, which will represent half of net new additions to power generation capacity over the next five years (wind and solar completely dominate non-hydro renewable installations).
According to the IEA, while government policy support is still important, a key driver of this growth is renewable energy’s declining costs. The agency notes this could mean, “some countries and regions now have the potential to leapfrog to a development paradigm mainly based on increasingly affordable renewable power. This is especially true in Sub-Saharan Africa.”
The IEA’s Executive Director Dr Fatih Birol declared” “Affordable renewables are set to dominate the emerging power systems of the world.”
...[/font][/font]