A report from the International Energy Agency has found that renewable energy sources are expected to fulfil most of the growth in worldwide electricity demand , thereby decreasing the probability of a substantial increase in carbon emissions within the power industry .

According to the report , the most rapid rate of expansion is projected to originate from emerging and developing nations in Asia , with China , India , and Southeast Asia anticipated to account for over 70 % of the surge in worldwide electricity demand .

Executive Director of IEA , Fatih Birol , says : “ Renewables and nuclear power are growing quickly enough to meet almost all of this additional appetite , suggesting we are close to a tipping point for power sector emissions . Governments now need to enable low-emissions sources to grow even faster and drive down emissions so that the world can ensure secure electricity supplies while reaching climate goals .”

� GREEN SUBSIDIES Wind turbine manufacturers are anticipating a reversal of fortunes in 2024 due to increased investment in response to US legislation and faster permitting processes from European policymakers .

� SOLAR POWER EXPANSION The International Energy Agency predicts that solar photovoltaic capacity will surpass that of hydropower next year , gas-fired generation in three years , and coal in four years to become the leading power source .

� SUV EMISSIONS UP A strong increase in sales of electric models , increasing by 60 %, was not enough to prevent carbon dioxide ( CO2 ) emissions from SUVs worldwide reaching almost 1bn tonnes in 2022 .

� EUROPE ENERGY CRISIS The expenses of European nations safeguarding households and businesses from escalating energy prices have risen to nearly € 800bn – equivalent to around US $ 850bn .

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