In a landmark shift for global energy dynamics, the International Energy Agency (IEA) forecasts a decline in coal’s share of global electricity production below 33% within the next three years, down from 36% last year.
By the onset of 2025, renewable energy sources are expected to surpass coal, marking a pivotal moment in the transition towards greener energy. The IEA’s report further anticipates that renewables, together with nuclear power, will account for nearly half of the world’s electricity generation by 2026.
This transition is underpinned by an expected annual decrease in coal-powered electricity production by 1.7% between 2024 and 2026, assuming a recovery in hydroelectric power production, which hit a three-decade low average capacity of below 40% in 2023.