By Jonathan Fahey | The Associated Press
Renewable energy is growing fast around the world and will be the second biggest source of electricity, after coal, by 2016, according to a five-year outlook published Wednesday by the International Energy Agency.
Developing countries are building more wind, solar and hydro-electric power plants to meet rising power demand and combat local pollution problems. And the costs of renewables are falling below the cost of traditional power source ssuch as coal, natural gas and oil in some markets with high-priced power.
Renewable power is the fastest-growing power generation sector and it is expected to increase by 40 percent in the next five years. By 2018 it will make up a quarter of the world’s energy mix, according to the report up from 20 percent in 2011.
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If you’d like to discuss energy issues, contact Court Rich, Co-Chair of Rose Law Group’s
Renewable Energy Department at crich@roselawgroup.com
