The Strategist

IEA: Renewable energy generation will skyrocket by 2023

10/10/2018 - 15:48

This week, the Intergovernmental Panel on Climate Change released a report that the world will face an unprecedented disaster over the next decade, recalling the fragile condition of our planet. However, the International Energy Agency’s (IEA) predictions for renewable energy provide a much more encouraging picture, predicting a massive increase in clean energy production over the next five years, subject to the necessary policy measures.

mypubliclands via flickr
mypubliclands via flickr
In a press release to its report on Renewable Energy 2018, dated October 8, the IEA highlighted modern bioenergy as having the potential to maximize the growth of renewable resources in the period up to 2023. The International Renewable Energy Agency (IRENA) describes bioenergy as including liquid biofuels produced from plants, biogas produced by anaerobic digestion of biogas, and wood pellet heating systems that are of particular importance to industrial industries. The IEA also noted the importance of modern bioenergy in developing a robust renewable portfolio and creating a safer and more sustainable energy system.

“Modern bioenergy is an overlooked giant in the field of renewable energy,” said Fatih Birol, the executive director of the IEA, in a statement. - Its share in the total volume of consumption of renewable sources in the world today is about 50%, which is comparable with hydropower, wind, solar and other renewable energy sources combined. We assume that modern bioenergy will continue to develop and has great prospects for further growth. ”

One of the scenarios presented in the report projects growth to 1.3 terawatts of clean energy by 2023. In part, this renewable energy boom is expected to come from solar power. It is predicted that solar photovoltaic power will increase by almost 600 GW — more than all other renewable energy technologies, or twice as much as all Japan’s — and will reach 1 terawatt by the end of the forecast period.

Despite recent policy changes, China remains the absolute leader in photoelectricity generation, and by 2023 it will occupy 40% of global photovoltaic power. The US remains the second largest growing market for solar energy, followed by India, which will grow fourfold.

The report stresses the importance of proper policies and marketing projects for the successful continuation of renewable energy growth.