Renewables Overtake Coal as Global Energy Shift Accelerates

The global energy landscape is undergoing a significant shift as renewable energy sources are expected to surpass coal as the world's largest source of electricity generation by 2026, according to the International Energy Agency (IEA). This development poses challenges for gas-rich economies like Nigeria, which seeks to balance its energy transition with economic growth and energy security.

The IEA projects that renewable electricity generation will expand by over eight percent this year, increasing its share of global electricity production from 33 percent in 2025 to 37 percent by 2027. This rapid expansion is driven by the growing adoption of solar photovoltaic (PV) technology, which is expected to increase global solar generation by around 600 terawatt-hours (TWh) this year.

The shift towards renewables has significant implications for countries like Nigeria, which relies heavily on natural gas. The IEA notes that while renewable energy can strengthen energy security by diversifying electricity supplies and reducing dependence on imported fossil fuels, it also underscores the importance of reliable power infrastructure to meet rising demand.