There have been plenty of gold and oil rushes in history, but now wind and solar energy are where the big action is. [Image shows renewable energy electricity generation worldwide. Note the dotted line shows the *percentage* of all electricity generation.]
Renewable electricity generation from wind is expected to double, and from solar to triple, in the next six years and outpace natural gas and nuclear power as a global source for electricity as early as 2016, according to a report by the International Energy Agency (IEA). If that happens, renewables will be second only to coal for electricity generation.
“Globally, renewable generation is estimated to rise to 25% of gross power generation in 2018, up from 20% in 2011 and 19% in 2006,” the IEA reports. That growth is being driven mostly by the expansion of wind and solar photovoltaics (PV) generation.
“It’s a remarkably bullish outlook compared to most forecasts,” commented greentechmedia energy analyst Chris Nelder in a thorough post about the new report. “It’s particularly remarkable for the IEA, whose conservative outlook on renewables has historically lagged behind reality.”