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Renewables to overtake coal as largest global electricity source in 2025

The IEA has released its Renewables 2023 report, in which it predicts that renewable energy sources will surpass a key milestone in 2025.

While more effort is needed to reach that goal, one energy organization has predicted that renewables will overtake coal generation as the world’s largest electricity source in early 2025. “The report shows that under existing policies and market conditions, global renewable power capacity is now expected to grow to 7,300 GW over the 2023-28 period covered by the forecast,” the IEA wrote in a press release. Despite the optimistic tone, the IEA also says that renewable energy expansion will need to accelerate even more to reach the COP28 2030 goal, and the world faces the primary barrier of financing for these projects in emerging and developing economies.

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