Even if traditional fossil sources will still continue to be the foundation of energy supply worldwide, it is acknowledged that renewable energies will play a dynamic and increasing role in the global power mix. An evidence of this fact is the publication of the new IEA "Medium-Term Renewable Energy Market Report 2012" exclusively focused on renewable energies.

The study examines in detail 15 key markets for renewable energy, which currently represent about 80% of renewable generation, and at the same time identifies and characterises developments that may emerge in other important markets.
The report presents a forecast of global developments and detailed country projections over the next five years, examining renewable energy generation and capacity for eight technologies: hydropower, bioenergy for power, onshore wind, offshore wind, solar photovoltaics, concentrating solar power, geothermal and ocean power.

The main finding is that renewable electricity generation should expand by 1,840 TWh between 2011 and 2017, almost 60% above the growth registered in the previous five years, at an yearly increase of 5.8%. Renewable generation will increasingly shift to the new markets, with non-OECD countries accounting for two-thirds of this growth. Of the 710 GW of new global renewable electricity capacity expected, China accounts for almost 40%. Other countries in which renewable production should grow significantly are, for example, the United States, India, Germany and Brazil.

Among the technologies analysed, hydropower will continue to account for the majority of renewable generation, featuring also the largest absolute growth, mainly concentrated in non-OECD countries. Also the other technologies will increase their share of the market, with onshore wind, bioenergy and solar photovoltaic expecting the largest increases after hydropower.

For more information please see the IEA press release.