The International Energy Agency (IEA) will raise its outlook for wind and solar installations after consistently underestimating growth.
The IEA works to ensure reliable, affordable and clean and renewable energy for its member states and is involved with energy related forecasting. Its revisions represent increasing interest in sustainable technology. This is in line with the 2015 United Nations Climate Change Conference in Paris where 195 countries agreed to work towards limiting global warming to less than 2° C compared to pre-industrial temperatures. All signs seem to be pointing to a sharp increase in the renewable energy industry.
“The IEA has significantly raised its estimates for the deployment of renewables compared with previous years reflecting major changes in energy policies around the world, such as the adoption of the Paris Agreement” Jad Mouawad, the IEA spokesman, said by e-mail.
The increased estimates will be published in the IEA’s annual mid-term market report for the industry at the end of this month. These reports are usually used by many forecasters as a starting point for trends in the industry.
Renewable energy industry forecasts reflect a global awareness
This year’s forecasts seek to reflect the growing number of countries adopting climate change policies. All signs seem to be pointing to a sharp increase in the renewable industry. According to the World Energy Council, solar and wind energy will account for 60% of all power generated by 2060.
As more countries have been adopting climate change policies, Arbox’s flagship HAP® PLATFORM was developed to allow developers, project managers and operators in the field of Clean Energy (solar, wind, and more) to manage the full life cycle of their business from start to finish. These developments have been spurred on by the agreement reached in Paris at the end of last year, which has inspired a number of emission cutting and climate change policies. This historic agreement will only do good for the climate if it is translated into real action.
The Vancouver-based startup launched in 2016 aim to make a global difference on the planet climate change by building great tools for companies to grow in their line of business.