"The good news is that renewables and nuclear power are growing quickly enough to meet almost all this additional appetite, suggesting we are close to a tipping point for power sector emissions," IEA director Faith Birol said.
The share of wind and solar in the power generation mix is seen rising to 35% in 2025 from 29% in 2022.
The largest gains in renewable power expected in the Asia Pacific region, with an 11.6% yearly average growth rate, followed by Europe with a 9.4% yearly growth rate, and the Americas, with a 5% growth rate average per year.
The IEA's forecast for renewable growth globally from 2022 to 2025Asia also dominates demand growth, with more than 70% expected from China, India and south-east Asia, although trends in China are uncertain, the report said.
Production from gas-fired power plants in Europe is forecast to fall, but significant growth in gas-fired production in the Middle East is likely to limit the decrease, the report said.