IEA recognises renewable sector as “fastest growing”

Renewable energy is becoming a major player in the world’s energy and as such will get an annual medium-term report from the International Energy Agency. The agency already provide medium-term […]

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By Tom Gibson

Renewable energy is becoming a major player in the world’s energy and as such will get an annual medium-term report from the International Energy Agency.

The agency already provide medium-term reports on energy big guns oil, gas and coal. According to the IEA, renewables are the fastest growing sector and account for almost a fifth of all electricity produced worldwide.

Despite the publication Maria van der Hoeven, IEA Executive Director warned the sector still needed support: “Significant policy effort, combined with continued economic incentives, is still needed to push a large portfolio of these technologies toward full competitiveness.”

The report, to be published in July 2012, will include five-year projections for global renewable energy electricity capacity and generation.