Report: Renewables Will Surpass Gas In Electricity Production By 2015

Renewable energy sources will account for at least 23 percent of the world’s electricity supply by 2015, overtaking gas as the second-highest producer behind coal globally, according to a report by the International Energy Agency. A combination of high gas prices and more efficient renewable technologies will make renewable solutions, including wind and solar power, more mainstream, the report concludes. Offshore wind production will be among the fastest-growing sources of energy, according to the report, with a predicted 100-fold increase in production by 2030. “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,” the IEA’s World Energy Outlook report states. The IEA predicts that renewables could account for as much as 40 percent of global production if there are stricter world standards on greenhouse gas emissions.