By Adaobi Rhema Oguejiofor
The International Energy Agency (IEA) has predicted the dominance of renewable and nuclear energy in contributing to the growth of global electricity supply in the next three years.
IEA an organization committed to maintaining a steady supply of credible and reliable data for use by the general public and stakeholders in the international energy space.
In its “Electricity Market Report for 2023” published on Wednesday, the Agency said the projected adoption of renewables will increase their share of the global power generation mix from 29 percent in 2022 to 35 percent in 2025, while the share of fossil fuel generation will drop.
“The CO2 intensity of global power generation will continue to decrease in the years ahead,” the report read in part.
The Agency stated that the combination of both energy sources will, on average, meet more than 90 percent of the additional demand. IEA also mentioned that an expected surge in electricity generation from renewable energy in the next few years shows that the entire world is close to a climax of emissions in the power sector.
It, however, warned that the surge in renewable energy will have to go with accelerated investments in grids and flexibility so that clean energy supply can be successfully fused into emerging power systems.