IEA Report: Global Outlook Positive for Renewable Energy Sources through 2040

The International Energy Agency (IEA) on November twelve released its "World Energy Outlook 2014" (WEO-2014) which plans that world energy demand will increase 37% by 2040-but demand would have been higher without global energy efficiency measures. At the same time, renewable energy technologies gain ground rapidly, helped by falling costs and subsidies.

The report sees a positive outlook for renewable energy sources, expected to account for nearly half of the global increase in power generation by 2040. According to WEO-2014 wind energy will account for the biggest share of growth in renewables-based generation, followed by hydropower and solar technologies, including photovoltaic (PV) systems. As the share of wind and solar PV in the world's power mix quadruples, their integration both from a technical and market perspective will become more challenging. See the IEA news release.

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