8. Evolving Energy Sources
Historically, shifts from wood to coal to oil have spurred industrial growth. Today, renewable energy is set to dominate in the next decade, driven by technology and policy. The International Energy Agency (IEA) forecasts that renewable electricity generation will increase almost 60% by 2027, with solar photovoltaic (PV) capacity surpassing hydropower in 2024, natural gas in 2026, and coal in 2027, becoming the largest installed electricity capacity worldwide. For more details, refer to the IEA’s report on renewable electricity (iea.org).
