IEA Sees 4,800 GW of New Renewables by 2031
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The IEA forecasts 4,800 GW of renewable capacity additions worldwide by 2031, with emerging markets outside China expected to match advanced economies for the first time. The agency says the Middle East crisis and higher fuel prices are accelerating renewable deployment and elevating it on policy agendas.
The Strait of Hormuz crisis and the spike in fuel prices are pushing faster renewable energy deployment across the world, the International Energy Agency (IEA) said in a new report on Friday. For the first time, emerging markets outside China are set to match the clean energy capacity additions in advanced economies through 2031, the agency said in its Renewables 2026 report with analysis and forecasts through 2031. Following the Middle East crisis and the spike in fuel prices, renewables have risen to the top of the policy…