BAKU, Azerbaijan, October 29. Renewable energy sources are expected to account for the majority of the electricity capacity additions globally, the International Energy Agency (IEA) said, Trend reports via the latest World Energy Outlook from the IEA.
As of the Stated Policies Scenario (STEPS), renewables will continue to scale up with the share of 43 percent in total generation by 2030, and 65 percent of 2050.
At the same time, according to the Announced Pledges Scenario (APS), the forecast for renewables growth by 2030 is 35 percent higher than in the STEPS.
Meanwhile, the IEA expects wind and solar PV to account for between 45 and 85 percent of all capacity additions by 2050.
In the APS annual wind capacity additions in 2030 raise to 210 GW from 95 GW in 2021, and to 270 GW in 2050, while solar PV capacity additions grow from 151 GW in 2021 to 370 GW in 2030 and nearly 600 GW in 2050.
Moreover, the Net Zero Emissions Scenario assumes that renewables boost even faster, with their share of total generation growing from 29 percent in 2021 to over 60 percent in 2030 and nearly 90 percent in 2050, the IEA noted.
“By far, wind and solar PV are the largest contributors to this development, and total installed solar PV capacity in particular is projected to far outstrip that of any other source in both the STEPS and the APS from the 2030s onwards. In the STEPS, wind and solar PV together set new records every year to 2030 and then continue robust annual growth through to 2050,” the report said.
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