Renewables will emerge as the fastest growing source of electricity generation between 2010 and 2014, according to a new report by the Energy Information Administration (EIA).
Generation from renewables will grow at 2.8% a year closely followed by nuclear energy and natural gas, both on 2.5%. Despite this, the report predicts that non-hydropower renewables will account for less than 10% of global electricity generation.
The 2013 International Energy Outlook predicts a growth in global electricity generation of 93% between 2010 and 2040. The annual growth in emerging economies will be more than three times faster than in the developed world, according to the EIA, the US Department of Energy’s independent analysts.
The report predicts that almost 80% of the expansion in renewables will come from wind and hydro.
It also suggests that intermittency limitations will be partially offset by improvements in storage technologies and a wider geographic spread of solar and wind installations.
Electricity consumption in 2040 will total 39 trillion kWh. Of this 3.4 trillion kWh will be drawn from non-hydropower renewables.