Drivers of renewables’ growth have changed, says IEA’s Birol

Energy Materials 17 January 2023 13:58
Baku, Azerbaijan Trend News Agency Leman Zeynalova
Drivers of renewables’ growth have changed, says IEA’s Birol

Drivers of renewables’ growth have changed, Fatih Birol, executive director of the International Energy Agency (IEA), said during the discussions on Mastering New Energy Economics at the World Economic Forum in Davos, Switzerland, Trend reports.

"The world has never seen an energy crisis of this complexity. Because before February 24, 2022 Russia was the number one energy exporter of the world. The crisis has huge implications on oil and gas markets. At the same time, it gave a big boost to clean energy development. In the past, clean energy was growing, but the main driver was the environmental reasons. But now, the biggest driver of renewables’ growth is energy security. Long-lasting solutions to our energy security problems go through clean energy," he said.

Birol pointed out that the growth in clean energy is very strong.

"Growth of renewable energy last year stood at 25 percent as compared to 2021. We’ve never seen that. In 2019, only three out of 100 sold cars were electric vehicles, and last year it was 13 percent, which is a big growth. It this trend continues, in 2030 every second car sold in Europe, US and China, three largest car markets, will be EVs. There is also more structural response coming from the countries such as the US – inflation reduction act. In my view, it is the most powerful climate action after the Paris Agreement. We’re seeing a big push by industrial policies of countries. I think they will merge and we’ll hopefully have a secure clean energy future," he added.


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