IEA: Wind and solar capacity will overtake both gas and coal globally by 2024
https://www.carbonbrief.org/...d-and-solar-capacity-will-overtake-both-gas-and-coal-globally-by-2024
Electricity demand increases (red) and renewable energy generation growth (light blue, dark blue, green and yellow) between 2019-2025. Source: IEA.
In the US and Europe, renewable increases are expected to far exceed demand as they are brought in to replace ageing fossil fuel infrastructure.
However, in Asian nations renewables will only cover some of the future demand, with the remainder covered by fossil fuels.
‘Defying Covid’
Global energy demand is set to decline by 5% in 2020 due to Covid-19 and electricity demand by 2%. The IEA has previously noted that the crisis is accelerating the closure of older fossil fuel infrastructure.
However, according to the report, electricity generated by wind, solar, hydro and biomass is expected to increase by 7% globally in 2020