RENEWABLE ENERGY Market Analysis
and Forecasts to 2020

International Energy Agency (IEA)

Medium-Term Market Report EXECUTIVE SUMMARY 2014

In 2013, new renewable power capacity expanded at its fastest pace to date. Globally, renewable
generation was estimated on par with that from natural gas.

Over the medium term, renewables face a transition period. Despite strong anticipated generation
growth, new generation, capacity additions and investment in renewable power are all expected
to level off through 2020. Biofuels for transport and renewable energy use for heating and cooling
face slower growth and persistent policy challenges.

Even with growing competitiveness, policies remain vital to stimulating investment in capitalintensive
renewables. Scaling up deployment to higher levels would require stable, long-term policy
frameworks and market design that prices the value of renewables to energy systems and increases
power system flexibility to ensure system adequacy with greater variable renewables.

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