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IEA: Renewables To Dominate Energy Supply Growth

Renewables share of the global power generation mix is forecast to rise from 29% in 2022 to 35% in 2025, with the shares of coal- and gas-fired generation falling, a new report from the International Energy Agency (IEA) said. This means the CO2 intensity of global power generation will continue to decrease in coming years, the report said, despite Europe increasing CO2 intensity from power generation in 2022. According to the IEA, this setback will be temporary” as Europe’s power generation emissions are expected to decrease on average by about 10% a year through 2025. The IEA report noted that electricity demand and supply worldwide were becoming increasingly weather dependent with droughts and heatwaves driving record peaks in power demand last year. It said this trend highlighted the need for faster decarbonisation and accelerated deployment of clean energy technology. It also noted that while the share of weather-dependent renewables grew, it also increased the need for flexibility of power systems to ensure energy security.  

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