Green energy will be number one in 2025, and it’s all thanks to the current crisis

The recent report Renewables 2022 of the International Energy Agency, IEA (find it at this link), brings a shy ray of optimism to the future of renewable sources.

“Thank you” to the recent events from which it has arisen the energy (and humanitarian) crisis we are living and witnessingrenewable energies are receiving investments never seen before.

In the base scenario, that covers the next five years (2022 – 2027)renewable sources should grow by nearly 2,400 GW coming to cover the 90% of all electrical capacity addition in the short term, worldwide. It would be 85% more investments than in the previous five years and 30% beyond the forecast the IEA had made in 2021.

They are leading the way two strong and consolidated economic realities, the European Union and the United Statesand two emerging realities, China and India which, through its internal policies (14th Chinese Five-Year Plan, REPowerEU community andInflation Reduction Act US) are setting a good example for the rest of the world.

Continuing on this path, IEA estimates, within the next three years renewable sources will contribute to the global energy supply more than coal.

The share of RES (Renewable Energy Sources) in the energy mix will increase 10 percentage points in the forecast period, reaching 38% in 2027with solar as the first green source.

The installed photovoltaic capacity, explains the IEA, it is poised to surpass that of coal in just 5 years, becoming the largest power in the world. “Cumulative solar capacity has nearly tripled in our forecast, growing by nearly 1,500 GW, and we expect it to surpass natural gas by 2026 and coal by 2027”.

Wind power should earn 570 GW of new onshore capacity in the same period and even hydrogen (green) will carve out a little space.

The policies and targets introduced in over 25 countries around the world should lead to 50 GW of wind and PV capacity focused on vector H2 generation by 2027.

The agency forecast also paid attention to theeconomic aspectwho still sees China as the nation most oriented towards photovoltaicsboth in terms of installation and production and sale.

Asian country will install almost half of the new global capacity of renewable energy from solar over the next five years, also going gradually to abolish existing subsidies.

Furthermore, according to the IEA, China will stay the world’s leading producer in the photovoltaic sector, although its share will decrease slightlygoing from 80-95% today to 75-90% in the coming years.

The percentage could drop further if Western countries were to establish and/or maintain protectionist trade policies, going to promote national production.

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