IEA: Expansion of Renewable Energies Not Growing Fast Enough

2. December 2021 | Market

The International Energy Agency has presented its report on the status quo of sustainable energy sources, in which it calls on policymakers to take action.

The expansion of renewable energy sources will reach a new high this year, writes the International Energy Agency (IEA) in a report presented on Wednesday. The driving force is photovoltaics, with growth of 17 percent.

By 2026, the power generation capacity of renewable energy sources will rise to more than 4,800 GW, equivalent to the current total global power capacity from fossil fuels and nuclear energy, it said.

However, the industry faces many challenges, the IEA said. These include lengthy licensing procedures and a lack of public acceptance for the construction of new plants. In addition, rising prices for the materials and raw materials needed to manufacture solar modules and wind turbines are weighing on manufacturers.

Even if these obstacles were removed, the goal of climate neutrality by 2050 could not be achieved at the current rate of expansion, the report continues. Governments would therefore need to be much more ambitious.

The full report can be found here.

Photo: iStock/Mimadeo

California MP_Materials