The International Energy Agency raises its forecast for renewable growth for the next five years. At least this is the conclusion from its Medium – Term Renewable Energy Market Report 2016. The report that is produced annually has been presented this week at the Spanish Energy Club (Enerclub) in Madrid.
Paolo Frankl, head of the renewable energy division at the IEA, was responsible for presenting this renowned report, along with Arcadio Gutiérrez, CEO of Enerclub, who stressed that 2015 marked a turning point for Renewable energies, becoming the largest source of installed power in the world after overcoming coal.
2015, the reference year for renewable energies
Paolo Frankl, for his part, stressed that among the factors that have made this change possible is the greater political support from key countries such as the US, China, India or Mexico, the continuous reduction of costs or technological improvements.
“This new scenario,” he continued, “has led the IEA to raise its growth forecasts for renewables over the next five years (+ 13% on the 2015 Report). Specifically, global renewable capacity is expected to increase by 825 GW (42%) between 2015 and 2021, “he said.
28% of renewable generation in 2021
According to the study, in the next five years renewable energies will continue to be the source of electricity generation with greatest growth (from 23% of electricity generation in 2015 to 28% in 2021), representing more than 60% % of the increase in world electricity generation in the medium term.
In addition, it is estimated that the generation from renewable energies will exceed 7600 TWh by 2021, which is equivalent to the total electricity generation of the United States and the European Union, according to the head of the IEA.
However, despite the excellent prospects, Paolo Frankl was cautious about its evolution, due to factors such as political uncertainty, its greater integration in the systems, the need for more investment or the slow development of renewable technologies in the heating and transportation sectors, Enerclub claims in a statement.
And what about in Spain?
As for Spain, he emphasized that we are the third country in the world for electricity generation from solar photovoltaic and wind energy. However, the IEA anticipates that the prospects for the installation of new renewable energy capacity will be very limited in the medium term, so the country would lose this position.