The expansion of renewable energy is currently driven primarily by energy security rather than environmental concerns, International Energy Agency (IEA) Executive Director Fatih Birol said, APA-Economics reports.
"Previously, environmental concerns were the main policy priority driving the development of renewable energy. The declining costs of these technologies have made them competitive energy sources in many markets. However, the expansion of renewable energy is now driven primarily by energy security, as an increasing number of countries seek to reduce their dependence on imported fuels," Fatih Birol noted.
According to him, the new phase of renewable energy development is truly global in nature. The deployment of these energy sources is expanding beyond major markets and spreading to all regions of the world. This is making renewable energy one of the main pillars of the global electricity sector.
"Currently, one-third of global electricity generation comes from renewable sources. Over the next five years, this share is expected to approach half," Fatih Birol emphasized.
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