Clean energy growth forecast boosted

3rd November 2016


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  • Mitigation ,
  • Renewable ,
  • Business & Industry

Author

Tracey Carr

The International Energy Agency has boosted its five-year growth forecast for renewables due to strong policy support in key countries and sharp cost reductions.

The agency’s latest forecast predicts that renewables will grow 13% more between 2015 and 2021 than it forecast last year, as policy backing in the US, China, India and Mexico firms up. Over the forecast period, costs are expected to fall by 25% in solar PV and 15% for onshore wind.

However, renewable energy capacity in the EU is forecast to grow by 23% by 2021, compared with 62% in the past six years. Policy uncertainty, weak electricity demand growth and pending EU legislation are cited as the main reasons for the drop-off.


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