Renewable energy accounted for almost half of all new power plants in 2014, representing a “clear sign that an energy transition is underway”, according to the International Energy Agency (IEA).
“The biggest story is in the case of renewables,” said IEA executive director, Fatih Birol. “It is no longer a niche. Renewable energy has become a mainstream fuel, as of now.” He said 60% of all new investment was going into renewables but warned that the $490bn of fossil fuel subsidies in 2014 meant there was not a “fair competition”.
