NEW YORK — Renewable energy is growing fast globally and will edge out natural gas as the second-biggest source of electricity, after coal, by 2016, according to a five-year outlook by the International Energy Agency.
Developing countries are building more wind, solar, and hydroelectric power plants to meet rising power demand and to combat local pollution problems. The costs of renewables are falling below the cost of traditional power sources such as coal, natural gas, and oil in some markets with high-priced power.
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