PARIS, October 16. /TASS/. The world's nuclear and renewable energy capacity is growing rapidly and by 2030 more than half of the world's energy will be produced from low-emission sources, according to the annual report of the International Energy Agency (IEA) World Energy Outlook 2024.

By 2023, renewable energy sources alone are expected to account for 560 GW of generation growth, the report said. According to the agency, the volume of investment in this area is approaching $2 trillion per year, which is twice the combined investment in new supplies of oil, gas, and coal. It also claimed that the cost of most clean technologies is on a downward trend. Analysts believe that by the beginning of the next decade, it will be possible to increase the total generating capacity from renewable energy sources from the current 4.2 TW to 10 TW.

According to the analysts, this is more than enough to meet the growth in global electricity demand and force coal generation into decline. Together with nuclear power, which is seeing renewed interest in many countries, low-emission sources will generate more than half of the world's electricity by 2030, the report said.

The authors of the report emphasized that geopolitical tensions and the fragmentation of the world are the main threats to energy security. However, despite these risks, they believe that markets are currently in a favorable condition for competing with different types of energy, against the backdrop of an expected oil and LNG excess supplies in the second half of the 2020s and the high availability of production capacity for key clean energy technologies.