Renewables 2022: Analysis and Forecasts to 2027
Abstract
Renewables 2022 is the International Energy Agency's (IEA) primary analysis on the renewable energy sector, focusing on current policies and market developments. The report forecasts the deployment of renewable energy technologies in electricity, transport, and heat through 2027. It also explores key challenges to the industry and identifies barriers to faster growth. The current global energy crisis presents both new opportunities and new challenges for renewable energy, prompting the examination of new policies introduced in response.
Key Findings
- Ambitious Targets: The European Union has proposed more ambitious renewable energy targets.
- Windfall Profits: The issue of windfall profits from rising energy prices is discussed.
- Solar PV Manufacturing: There is a focus on diversifying solar photovoltaic (PV) manufacturing.
- Hydrogen Production: Renewable capacity for hydrogen production is examined.
- Biofuels: A possible feedstock crunch in the biofuels industry and ways to avoid it are analyzed.
Executive Summary
The report highlights the significant role of renewable energy in addressing the current global energy crisis. It underscores the need for robust policies to enhance the reliability, affordability, and sustainability of energy. The analysis covers various regions, including:
- China: Significant growth in renewable electricity generation.
- United States: Rapid expansion in renewable energy sectors.
- Europe: Ambitious targets and diverse renewable energy initiatives.
- Asia-Pacific: Increasing demand for renewable energy technologies.
- Latin America: Growing interest in renewable energy projects.
- Middle East and North Africa: Opportunities for renewable energy investments.
- Sub-Saharan Africa: Potential for renewable energy development.
Chapter 1: Renewable Electricity
- Forecast Summary: Detailed market analysis and forecasts for renewable electricity deployment.
- Key Regions:
- China: Leading in renewable electricity generation.
- United States: Significant growth in renewable energy sectors.
- Europe: Ambitious targets and diverse renewable energy initiatives.
- Asia-Pacific: Increasing demand for renewable energy technologies.
- Latin America: Growing interest in renewable energy projects.
- Middle East and North Africa: Opportunities for renewable energy investments.
- Sub-Saharan Africa: Potential for renewable energy development.
Chapter 2: Transport Biofuels
- Forecast Summary: Analysis of biofuel demand, supply, and trade.
- Key Trends: Examination of biofuel policies and market dynamics.
Chapter 3: Renewable Heat
- Recent Trends and Policy Update: Overview of recent trends and policy updates in the renewable heat sector.
Acknowledgements, Contributors, and Credits
- Prepared by: The Renewable Energy Division in the Directorate of Energy Markets and Security.
- Lead Authors: Yasmina Abdelilah, Heymi Bahar, Trevor Criswell, Piotr Bojek, François Briens, Jeremy Moorhouse, and Laura Mari Martinez.
- Contributors: Numerous colleagues from the IEA, including experts from partner countries and international institutions.
- Data Sources: Timely data from the IEA Energy Data Centre, with contributions from various organizations and institutions.
This comprehensive analysis aims to provide insights into the future of renewable energy, highlighting the challenges and opportunities in different regions and sectors.