Wednesday, July 24, 2024

Renewable energy contributes to a 95% increase in global electricity generation

Date:

A report by the International Energy Agency yesterday stated that renewable energy is expected to reflect a 95% increase in the world’s electricity generation capacity from 2026 to the end of 2026, with solar energy contributing half of this increase. .

This is despite the rising cost of materials used to make solar panels and wind turbines.

The Paris-based company said in its annual report on the renewable energy market that its capacity to generate electricity from renewable energy sources will reach its second-highest level by 2021.

Fatih Frol, managing director of the International Energy Agency, said: “The record increase in power generation from renewable energy sources to 290 gigawatts since the beginning of this year is another indication of the emergence of a new global energy economy.

“The rise we see now in commodity and energy prices presents new challenges for the renewable energy sector, but the high cost of fossil fuels makes renewable energy sources more competitive,” he added.

According to the IAEA report, the capacity to generate electricity from renewable energy sources by 2026 will be equivalent to the total global power generation capacity of fossil fuels and nuclear power.

The increase was driven by strong government policies and commitments at a climate conference in Glasgow last month, but the company added that the pace of renewable energy development needed to accelerate global warming.


Follow our latest local and sports news and the latest political and economic developments via Google News

Share

Print




Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Embrace the Adventure: Discover Dubai’s Dune Buggy Tours

Introduction to the Dubai Dune Buggy Tour Buckle Up, Adventure...

Why Estonia is the Perfect Launchpad for Luxury Brands

The world of luxury fashion is synonymous with elegance,...

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...