Renewables 2022 | IEA
- Dec 6, 2022 8:38 am GMT
Renewables will transform the global power mix through 2027, becoming the largest source of electricity Renewables become the largest source of global electricity generation by early 2025, surpassing coal.
Their share of the power mix is forecast to increase by 10 percentage points over the forecast period, reaching 38% in 2027. Renewables are the only electricity generation source whose share is expected to grow, with declining shares for coal, natural gas, nuclear and oil generation. Electricity from wind and solar PV more than doubles in the next five years, providing almost 20% of global power generation in 2027. These variable technologies account for 80% of global renewable generation increase over the forecast period, which will require additional sources of power system flexibility.
Meanwhile, the growth of dispatchable renewables including hydropower, Renewables 2022 Executive summary Analysis and forecasts to 2027 PAGE | 11 I EA. CC BY 4.0. bioenergy, geothermal and concentrated solar power remains limited despite their critical role in integrating wind and solar PV into global electricity systems.
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