The use of renewable energy around the world is growing faster than ever before. This was reported by the International Energy Agency (IEA). According to the agency, this is due to stronger government policies and increased climate targets. However, investments in sustainable energy sources such as wind turbines, solar parks and other facilities are still far from sufficient to reduce carbon dioxide emissions to zero by 2050.
This will require an average of twice as much money being invested in renewable energy over the next five years, according to the International Energy Agency. In terms of capacity expansion, China is taking the biggest steps and the use of renewables is growing faster in India. In addition, Europe and the United States are on the right track to increase their capabilities more rapidly in the coming years. These four markets currently account for 80 percent of all global investment in renewable energy.
The agency has warned for some time that countries should invest more money to combat climate change. The IEA believes that in the lead-up to and during the Glasgow Climate Summit, steps have been taken in this regard.
The United Nations Climate Panel IPCC said earlier this year that the Earth could warm by 1.5 degrees in the next two decades if drastic measures were not taken to curb greenhouse gas emissions. The report’s authors concluded that humanity is undoubtedly responsible for global warming.
The International Energy Agency expects renewable energy use to increase by about 60 percent by 2026 compared to 2020 levels. Renewables will then generate the same amount of energy as all fossil fuels and nuclear power combined.
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