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Renewable energy to expand by 50% in next five years – report

“Global supplies of renewable electricity are growing faster than expected and could expand by 50% in the next five years, powered by a resurgence in solar energy” writes Jillian Ambrose for theguardian.com. The IEA expects solar energy to play the biggest role in jumpstarting fresh growth in global renewable energy because falling costs are already below retail electricity prices in most countries.Renewable energy sources make up 26% of the world’s electricity today, but according to the IEA its share is expected to reach 30% by 2024.However, Birol warned that the role of renewables in the global energy system would need to grow even faster if the world hopes to meet its climate targets. He warned that although the potential for solar power was “breathtaking” the rapid rollout could disrupt electricity markets unless regulators and utilities adapt.
 
Source: theguardian.com



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