The IEA 2012 World Energy Outlook forecasts underline the rapid, substantial energy shifts sweeping the globe. A lot of front page ink flowed to tell readers that the US will produce more oil than the Saudis by 2020, according to the IEA forecast.
But much less attention has been paid to the IEA forecast that renewable energy may edge out coal as the world's largest source of electricity. www.pv-magazine.com?news/details/beitrag/iea--renewables-to-rival-coal-by-2035_100009194/#axzz2CcZrnkbC; www.nawindpower.com/e107_plugins/content/content.php?content.10670.
The IEA states that renewable energy will become the second biggest source of electricity by 2015 and possibly the world's biggest source by 2035. At that point, coal and renewable energy, including hydro, will each generate about 33% of all of the electricity consumed globally.
Heads are exploding in disbelief in certain quarters, but here is the link to IEA World Energy Outlook 2012: www.iea.org/publications/freepublications/publication/English.pdf. Renewable energy generation indeed already is a very big business and getting quickly still bigger.