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

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

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

    Related Posts

    • Economy
    • November 2, 2024
    • 11 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Best Kitchen Renovation Ideas to Upgrade Your Space

    Where to Get a Professional Massage in Dubai

    Where to Get a Professional Massage in Dubai

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare

    Dog Spay Surgery 101: Benefits, Risks, Cost, and Aftercare