Renewables Power Growth Turbocharged by Energy Security Concerns

The global energy crisis is accelerating the installation of renewable power as countries seek to strengthen energy security and reduce reliance on imported fossil fuels, according to a new IEA report. Global renewable power capacity is projected to almost double in the next five years, surpassing coal as the largest source of electricity generation.
Russia's invasion of Ukraine has motivated governments to turn increasingly to solar and wind power to reduce import dependence amid spiking fossil fuel prices. The IEA expects renewable power capacity to grow by 2,400 gigawatts over 2022-2027 - equivalent to China's entire current power capacity. This rapid expansion of renewables could help keep the goal of limiting global warming to 1.5 degrees Celsius within reach.
However, the IEA warns that policy and market reforms are needed to overcome challenges and ensure the sustainable growth of renewables.