Currently, renewable energy resources account for 26% of global electricity production, but the IEA predicts that this figure will rise to 30% by 2024. The recovery comes on the heels of the worldwide has slowdown in 2019 due to dropping technological costs and increased environmental concerns. The International Energy Agency is an independent international body formed in the aftermath of the 1973 oil crisis. It presently guides 29 member countries and the European Commission on energy policy in shaping the energy policies for a safe and sustainable future. According to the research, global solar capacity will increase by 600 GW by 2024, nearly doubling Japan’s installed total energy capacity. Consequently, renewable electricity projects will increase to 1200 GW by 2024, which is similar to the total electricity output of the United States.
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