Renewables projected to overtake natural gas as world’s second-largest power source

Renewables projected to overtake natural gas as world’s second-largest power source

Electricity generated from renewable energy is expected to grow by 40 percent over the next five years, and may surpass natural gas to become the world’s second-largest power source by 2016, according to the latest projections from the International Energy Agency (IEA). In its Medium-Term Renewable Energy Market Report, released Wednesday, the Paris-based IEA said renewables such as wind, solar, and biothermal will comprise a quarter of the world’s energy mix by 2018, up from 20 percent in 2011. If the projections hold true, renewables would be second only to coal as the world’s leading source of electricity. The agency attributed much of this growth to an overall decline in costs — particularly for wind and solar technologies —…

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Renewables projected to overtake natural gas as world’s second-largest power source

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