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Solar power will replace coal by 2027.

 Solar power is undergoing a boom as the energy crisis drives a shift to renewables after the war in Ukraine and is expected to surpass coal power by 2027, the International Energy Agency has forecast. Renewable energy overall will become the largest source of global electricity generation by early 2025, the IEA said, and the world will add twice as much renewable capacity from 2022 to 2027 as in the previous five years. Not only were countries driving «the expansion of new renewables» to achieve climate goals, but energy security and the need to «diversify» renewables supply chains from China had become increasingly important, said Fatih Birol, IEA executive director. «There is a strong competition between the largest economies to have pole position when it comes to the next chapter of the industry sector,» he said, whether in solar, wind power, batteries or electric vehicles.


Solar investment by the two countries is expected to reach almost $25bn between 2022 and 2027, a sevenfold rise on the past five years. The country will account for almost half of newly added renewable power in the years to 2027, helped by Beijing’s latest five-year plan, the agency said this week. The solar boom is expected to pick up pace in the next two years. Iberdrola, a European renewable energy company, planned to «more than double our global solar capacity to 10.6 gigawatts by the end of 2025», said Xabier Viteri Solaun, director of the sustainable energy business.

Solar projects can be developed and built more quickly than other renewable sources, and the group is «seeing an increase in capacity being added to new and existing wind farms». Even faster growth can be achieved if European countries make it easier to obtain permits for projects, improve incentives for rooftop solar installations and offer better terms in renewable energy auctions, the IEA said.
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  1. James B.7 December 2022 at 15:56

    Replace coal with solar power by 2027?! I wish that would be the case but I don't see it happening so soon. Again, I hope that happens but remain skeptical.

    ReplyDelete
    Replies
    1. Tim7 December 2022 at 16:14

      I understand your skepticism, I really do. And I share it to some extent. Yet I also believe we can get there by 2027 or 2030 at the most. Many countries are taking this very seriously and encouraging the switch to solar power.

      Delete
    2. James B.7 December 2022 at 22:33

      2030 sounds better. That's if major countries really get in on this and take active measures to encourage the use of solar power while making it harder and costlier to use coal power.

      Delete

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