Electricity generated from renewable sources is forecast to grow by an average 5.8% a year from 2011-2017 to reach a total of 6,400 terawatt hours in 2017, the International Energy Agency said in a report published Thursday.
Electricity generated from renewable sources is forecast to grow by an
average 5.8% a year from 2011-2017 to reach a total of 6,400 terawatt hours in
2017, the International Energy Agency said in a report published Thursday.
The growth in green power from 2011-2017 is forecast to be almost 60% more than
that registered in the previous seven-year period, the IEA said in a report
forecasting renewable energy generation and capacity across technologies
including wind and solar power, bioenergy and hydropower.
China
is
expected to account for 40% of the global renewable electricity capacity added
over 2011-2017, driven by ambitious policy targets, surging power demand and
ample finance.
China
's
growth in adding renewable power capacity is followed by the
U.S.
,
India
,
Germany
and
Brazil
.
"The outlook stems from the persistence of supportive policy and market
frameworks as well as increased economic attractiveness for renewable
technologies in an increasing range of countries and circumstances," the
IEA said.
However, key challenges in meeting the growth forecasts include cost reductions
in greener technologies, electricity grid and system integration, the cost and
availability of finance and policy uncertainties in some countries, the report
said.
"Increased macroeconomic risk and tighter bank capital requirements amid
uncertainty about policy support in some areas could constrain funds from
traditional sources--European bank project financing and utility balance sheet
investment," the IEA said.
Last year, global power generation from renewables was 4,540 terawatts hours,
5.8% higher than in 2010.
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