Renewable sources of energy are collectively on track to eclipse coal as the world’s leading source of electricity, with capacity growth forecast to nearly double in the next five years, the International Energy Agency (IEA) said in a new report.

Renewable Energy

IEA’s Renewables 2022 report forecasts that abundant energy drivers such as wind and solar will account for more than 90% of global electricity expansion over the next five years and, along the way, overtake coal by early 2025.

The agency expects the world’s renewable capacity to increase by about 2,400 GW between 2022 and 2027 — equal to the “entire installed power capacity of China today.”

The “massive expected increase is 30% higher than the amount of growth that was forecast just a year ago, highlighting how quickly...