IEA: Renewables to overtake gas as second largest source of power generation worldwide "after 2010"

By Tim Probert

12 November 2008 - Renewable energy will overtake natural gas to become the second largest source of power generation worldwide "after 2010", according to the International Energy Agency.

Dr Fatih Birol, chief economist of the IEA, told Power Engineering International that electricity from renewable energy would be second only to that from coal in the overall global power generation mix before 2015.

He said: "This includes not only the so-called 'new renewables': wind, solar, biomass etc., but also large hydropower. Put together, renewables are going to take over natural gas to become the second largest source of power generation behind coal after 2010."

Dr Birol was speaking at the launch of the IEA's World Energy Outlook 2008, which states, "Renewables-based electricity generation is expected to grow substantially over the coming decades, benefiting from high fossil fuel prices, declining investment costs and government support.

"Before 2015, electricity from renewable energy sources is projected to overtake gas as the world's second largest source of electricity behind coal, rising from 18 per cent in 2006 to 20 per cent in 2015 and 23 per cent in 2030."

The IEA said in the period to 2015, most of the increase in renewable generation would come from hydropower and onshore wind farms. In the 30 OECD nations, the total projected increase in renewable electricity generation between 2006-2015 (including hydro) is expected to top the combined increase in fossil fuel-based sources and nuclear power.

Costs of power generation from renewables are expected to fall over time due to increased deployment, in particular solar PV and concentrating solar power. The costs of the more mature technologies, such as geothermal and onshore wind power, were projected to fall the least, while hydro investment costs were seen broadly flat to 2030.

Sponsored by FLSmidth

Related Articles

Cape Wind secures $400M more in financing for offshore project

Cape Wind said it has secured an additional $400 million dollars from several financial institutions for the offshore wind project slated to be built in Nantucket Sound.

Dragonfly Solar, SolarWorld to deliver solar power to utility co-ops

Commercial solar developer, Dragonfly Solar and SolarWorld, a solar manufacturer, will deliver solar arrays, totaling 517-kW to four electric utility cooperatives in the U.S. Midwest.

Follow Power Engineering on Twitter

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Power Engineering Current Issue

03/01/2014
Volume 118, Issue 3
1403PE-cover

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Power Industry Wire News

Rockdale Resources Enhances Operations, Implements Cost Reductions and Changes Board Composition

Rockdale Resources Enhances Operations, Implements Cost Reductions and Changes Board Co...

Cardinal Energy Group, Inc.: Bradford Lease Drilling Report

Cardinal Energy Group, Inc.: Bradford Lease Drilling Report

MDU Places Dakota Natural Gas Pipeline on Hold, an Industrial Info News Alert

MDU Places Dakota Natural Gas Pipeline on Hold, an Industrial Info News Alert

Top Industrial Market News Stories for the Third Week of December 2014, an Industrial Info News Alert

Top Industrial Market News Stories for the Third Week of December 2014, an Industrial I...

American Leisure Holdings, Inc. Reports on Wholly Owned Subsidiary Financials

American Leisure Holdings, Inc. Reports on Wholly Owned Subsidiary Financials

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>