IEA chief: Solution to global problem of energy security related to clean energy

The long-term solution to the global problems of energy security is associated with clean energy, head of the International Energy Agency (IEA) Fatih Birol said at the session ‘Mastering New Energy Economics’ at the World Economic Forum in Davos, Report informs.

“Now the biggest driver for the development of renewable energy is energy security... Long-term solutions to energy security problems are associated with clean energy,” he said, noting that growth in green energy in 2022 amounted to 25% in annual terms.

The head of the IEA added that if in 2019 there were only three electric cars out of 100 cars in the markets of Europe, the US and China, in 2022 their number increased to 30, and in 2040 it will be 50 electric cars per 100 cars.

IEA analysts in the Renewables 2022 report noted that in the next five years the world intends to add as much renewable energy as over the past 20 years. In particular, according to the forecast of the agency, it is expected that the capacity of RES in the world will increase by 2,400 GW from 2022 to 2027. At the same time, by the beginning of 2025, renewable energy sources will become the main ones for electricity generation, they will account for more than 90% of total generation.

In addition to Europe, the acceleration of renewable energy capacity growth in the next five years will also take place in China, the US and India, which are actively pursuing renewable energy policies and implementing regulatory and market reforms faster than previously planned to combat the energy crisis. China is expected to account for almost half of the world's new renewable energy capacity in 2022-2027, the IEA also noted.