"Renewable energy, dominant" - IEA: In the next 5 years, more projects than in the last 40 years
Renewables will grow faster than any other major energy source in the next decade, according to the International Energy Agency, making the move away from fossil fuels "inevitable."
According to the International Energy Agency's (IEA) flagship annual report, more renewable energy projects will be built in the next five years than have been built in the last 40 years.
The report shows that this growth in renewable energy could meet almost all of the growth in global electricity demand, which is expected to expand by 40% over the next decade. This boost will come from demand for electric cars, heating, cooling, and to power artificial intelligence data centers.
The report also highlights a “renaissance” in nuclear power, driven by big tech companies seeking a stable, low-carbon energy supply for their data centers. The agency predicts that global investment in data centers will reach $580 billion by 2025, surpassing the $540 billion currently spent on global oil supplies.
The rise of low-carbon electricity is expected to seal the transition away from the fossil fuel era, despite calls from the Trump administration to pull back on green investments and increase oil and gas exploration.
Trump's decision to withdraw support for renewable energy is expected to have significant consequences. Under the agency's main scenario, the U.S. will have about 30% less solar capacity by 2035, compared with last year's projections. However, globally, renewables will continue their rapid expansion, the report said.
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