According to the World Energy Outlook 2018 published by the International Energy Agency (IEA), the electricity sector is experiencing its most dramatic transformation since its creation more than a century ago. Electricity is increasingly the “fuel” of choice and it’s share in global final consumption is approaching 20% and is set to rise further.

Investment in renewable energy is continuing to increase as countries transition their power systems to cleaner sources of energy. New investment in fossil fuel (coal) fired power plants is in decline with local and international financial institutions including development financial institutions announcing a stop on financing coal or financing aligned to the OECD position to only finance high efficiency low emissions plants of specific sizes.