Int'l Energy Agency Sees New Era in Solar Power

Int'l Energy Agency Sees New Era in Solar Power

According to the Natural Resources Defense Council's fifth annual energy report, in 2016 the nation's installed solar energy capacity was 46 times greater than the U.S. Energy Information Administration predicted, and wind power capacity was 350 percent more than forecast.

"We see renewables growing by about 1,000 GW by 2022, which equals about half of the current global capacity in coal power, which took 80 years to build", said IEA executive director Fatih Birol.

According to the IEA's report on Wednesday, renewables accounted for almost two-thirds of net new power capacity in 2016. This figure, IEA said, was equivalent to the power consumption of China, India and Germany combined.

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Giffords, whose ability to speak has been limited since the shooting, told her former colleagues, "The nation's counting on you". Gillespie, meanwhile, has the endorsement of the National Rifle Association and has an "A" rating from the group.

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"China alone is responsible for 40% of global renewable capacity growth, which is largely driven by concerns about air pollution and capacity targets that were outlined in the country's 13th five-year plan to 2020", IEA said.

Moreover, the growth of solar PV capacity will be more than other renewable technologies by 2022. China accounted for roughly half of the expansion, a total of 165 gigawatts of new solar energy in the world. However, despite the IEA suggesting that renewables will continue to close the generation gap with coal by half in five years, many climate experts still feel that the IEA continues to underestimate renewables' potential.

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China's solar dominance is only going to keep growing, according to the IEA report.

Renewables will account for 29 percent of the global energy mix in five years´ time, compared to the 24 percent forecast a year ago. This is an important development after the solar power tariff fell to a record low of Rs 2.44 per unit earlier this year.

Solar milestone: In 2016, additions of solar photovoltaic capacity grew by 50 percent, faster than any other kind of fuel for the first time, with China leading the way. One bidder offered Rs 2.83 per unit in Solar Energy Corporation of India's second auction of wind projects that started on Wednesday afternoon.

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"When you look at how clean energy development has exploded beyond official government projections from just 10 years ago, it offers hope that its potential will continue to far surpass expectations and we'll meet our USA climate goals", she said. The IEA states that these new policies, together with power market reform, new transmission lines, and the expansion of distributed generation, are expected to speed up the deployment of solar energy.

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